BULLISH OPPORTUNITY ON EURJPY!!Once again guys, we have another beautiful set up here.. oh btw, if you don't follow me already.. HIT THAT FOLLOW BUTTON.
Right,Right.. Let's dive into the technicals. We have a nice Bullish run before price reaches that point of resistance where price starts to retrace bearish. As you have probably gathered, my strategy is simple and I would recommend everyone who is trying to find their strategy to keep it simple. That's the trick. The profitability is in the simplicity.
50% Fibo retracement is marked at the grey line which is my entry for this trade. I have risked 1%. This is calculated by the number of pips from my entry to my stop loss and then multiplied by the cost per pip ( i.e. 160 pips x $8.80).
Bullish divergence is present and take profit as been marked too.
Happy trading all and remember to hit that follow button :)
Malika K
