EURJPY Long Retracement
Updated
EURJPY the first rade of the day.
Decided to go long as the channel stands pretty trong, while indicators are not at the "black and white" clear suggestion of RSI oversold (still some pips to go) and MACD cross at 0-level. Still, the momentum seems clear onthe chart. Major problem is there seems to be a strong resistence on the Fibonaci (red zone), so we shouldn't place any risky calls on making large wins here. On the flipside, any further downward movement suggests we're breaking the support on the channel, in which case we're in a free fall... So let's see if it is going to be a good morning ;)
Decided to go long as the channel stands pretty trong, while indicators are not at the "black and white" clear suggestion of RSI oversold (still some pips to go) and MACD cross at 0-level. Still, the momentum seems clear onthe chart. Major problem is there seems to be a strong resistence on the Fibonaci (red zone), so we shouldn't place any risky calls on making large wins here. On the flipside, any further downward movement suggests we're breaking the support on the channel, in which case we're in a free fall... So let's see if it is going to be a good morning ;)
Note
Shoutout to ECB Chariman Mario Darghi, messing up my morning... still in the Trade, but writing red figures for nowTrade closed: target reached
time to close the position, take the money and on to the next one!
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