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Eurjpysell

EUR/JPY Short Trade UpdateHey Guys! Just a quick update! As you guys know the current weekly bias on the Eur/Jpy is still short. Or in other words, price is likely to reach 114. 40 before reaching 133.68. (Though the main target has changed. Explained in the video.) 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 days and 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
4
EURJPY Short - Risk/Reward 1:2.5 - mid-termShort setup for EurJPY : With the money flow index and RSI decreasing on the 1W weekly frame, and after a strong reversal from 7th March lows (124.4), EurJpy is expected to see a selling pressure in price levels between 132 and 133. These price levels lie between a strong 1W Finbonacci level and the trendline joining the highs from june 2021. We look for taking short positions between 132.2 and 133. SL = 1D close above 134.3 which signifies further bullish continuation towards 137. TPs and proposed %s for closing the position: TP1 = 130.5 (20%) TP2 = 128.9 (30%) TP3 = 128 (20%) TP4 = 127 (20%) TP5 = 126.5 (5%) TP6= 125.3 (5%) with an effective closing position around 128.3 (+400pips) this short opportunity represents a Risk/Reward ratio of 1:2.5 Good luck samurai
Short
by Samurai_07
EUR/JPY Short Trade UpdateHey Guys! Just a quick update! As you guys know the current weekly bias on the Eur/Jpy is short. Or in other words, price is likely to reach 114.40 before reaching 133.68. 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. 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
EUR/JPY Short Trade UpdateHey Guys! Just a quick update! 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. 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
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
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
EUR/JPY Short Trade UpdateHey Guys! I took a Short Entry at 131.67 with a stop loss at 133.68 and the main target at 114. 40. As you know in my last update, I was talking about short term long strength coming back in, but yesterday, price began to give mixed signals. I was expecting a possible nfp range however, I got an nfp wild price action situation.( Price commonly gives mixed signals and price moves wildly on nfp days) None the less, I took a short entry at the specified level. Moreover, there was still short term long strength on the 15M chart with a Upward trendline breakout and immediate break back in, so typically I would wait for a deeper pullback for the short entry however; Due to it being a nfp release day, and price can possibly move erratically, I entered a short position. For the time being, I will see if I can get a further pullback to perhaps 132.67 for another short entry. Like always, I will be watching the lower time frames for signs of short term long strength to wane. If it does not wane close to the stop loss level of 133.68, I will abort both short positions. That's it! Have a great day guys! Ken Disclaimer: This is not Personal Financial Advice.
Short
by TradingForexPriceAction
3