EURJPY - 500 Pip Short Potential
Updated
The white Lines represent Weekly Zones of Liquidity/Reaction
The Orange Line Represents the 4 hour Resistance zone in which the recent daily wick had rejected based on previous consolidation and reaction zones
The Potential gain is a strong downtrend being formed; based on historical reactions the chart failed to break that resistance on the weekly and retested then failed once again.
We are currently 100 pips in the gain for the short with TP Zones at:
1.20-1.20500
1.18-1.18500
1.16-1.1600
Running trade to 1.14
The Orange Line Represents the 4 hour Resistance zone in which the recent daily wick had rejected based on previous consolidation and reaction zones
The Potential gain is a strong downtrend being formed; based on historical reactions the chart failed to break that resistance on the weekly and retested then failed once again.
We are currently 100 pips in the gain for the short with TP Zones at:
1.20-1.20500
1.18-1.18500
1.16-1.1600
Running trade to 1.14
Comment
We are 350-400 pips in Profit, week 3/4
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