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Eurjpyanalysis

EURJPY : TRADE IDEAfundamental : - risk tone between Ukrainian & russian - us sanction on russia will effect Europe’s energy, trade, manufacturing, banking and markets technical; - waiting for 128.415 level to break - Any fall below that level could be an opportunity to go long on the yen. My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all
Short
by mytw0cents
EUR/JPY Short Trade UpdateHey Guys! As you guys know the current weekly bias on the Eur/Jpy is short. Or in other words, price is likely to reach 133.68 before reaching 114. 40 . In this video, I explain the short position I'm currently holding and the reasons why I took the entry, as well as how I plan to trade this set up in the coming weeks. Moreover, I review how I have been trading this short set up for the last couple of weeks. That's it! I'll keep you guys updated! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Short
by TradingForexPriceAction
1
Price Action Lesson: The Basics of How to Read PriceHey Guys! Just wanted to put up a quick Price Action Lesson on How to Read Price. I demonstrate this foundational element of reading price with a current eurjpy short trade I'm currently in. The Key point of the lesson is simply: Directional movement of price is irrelevant when it comes to reading price. What's important is "How Price Gets from Point A to Point B". So even if price moves up, if there is no signs of strength in the same direction, that move up will be unsustainable. Moreover, this foundational way of looking at price movement is what allows a trader to always be one step ahead of the market and thus not chase the market. Ok! I hope this helps guys! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Education
by TradingForexPriceAction
1
EUR/JPY Short Trade UpdateHey Guys! As you guys know I currently have 2 short entries at 131.67-70 levels with both stop losses at 133.68 and the main target at 114. 40 . Upon my 2nd entry, due to the failure of long strength retaining its pivot low, long strength began to kick back in with a recovery of price back to the 1h minor pivot high. Then furthermore, a 1h upward trendline break out then break back in showed regained long strength. However, I did not abort both short entries due to the reasoning, that if my weekly bias of being short, or in other words price will reach 114.40 before reaching 133.68 is wrong, that 2nd entry point's price action of extreme long strength should not have failed, and prices should have shown extreme long price action before reaching its pivot low. Thus, I retained both short entries with the specified risk parameters. Moreover, as we had the wild price action long, there were no signs of extreme lower time frame long strength. That said, I did not enter a 3rd entry at this point due to only signs of waning long strength on the 1/5/15m charts. So at this point, I will only be willing to take a 3rd short entry with the same risk parameters, if price can show me signs of extreme short strength. This will be for example, a 1h upward trendline Break out, then immediate break back in showing long strength, but that pivot low still being reached for this shows that "Although there was long strength, short strength was able to override it", which shows extreme short strength. Ok that's it guys! I'll keep you guys updated! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Short
by TradingForexPriceAction
3
EUR/JPY Short Entry UpdateHey Guys! As you guys know, last Friday I took a Short Entry at 131.67 with a stop loss at 133.68 and the main target at 114. 40 . 2 hours ago, I took another short entry at 131.70 with the same risk parameters. The reason for the 2nd entry short was due to short term short strength coming back in . As you can see on the chart, first there was a 1m fake double bottom that reached its target height level before reaching the 2nd bottom's stop loss level. This signals short term long strength. Moreover, there was a 1h upward trendline breakout then immediate break back in. Which also signals short term long strength. Now, if there was truly short term long strength, price should not reach the 1h pivot low of the break back in confirmation and the 1m fake double bottom. However, price reached that pivot low. Signaling, that although there was short term long strength, short term short strength was able to over ride it, showing strong short term short strength. So for the time being, I have 2 short positions with the risk parameters mentioned above. But since price is making rather complicated short term signals, I will be watching for any signs of short term long strength kicking back in. If it does, there is the possibility that I will abort both positions to see if I can get a better short entry at higher levels. I'll keep you updated! Have a great day guys! Ken Disclaimer: This is not Personal Financial Advice.
Short
by TradingForexPriceAction
3