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Eurjpysell

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
EURJPY Short Bias .Waiting for Pullback for Short Entry. UpdateHey Guys! As you know, I'm currently waiting for a pullback to at least 131.67 for a short entry with the stop loss at 133.68 and the main target at 114. 40 . Here's an update! On the left side of the chart this was consistently short term short strength confirmed by upward trendlines break outs and no immediate breaks back in. ( No---! For I want long strength to kick back in for the short entry!) Then in the middle of the chart, price began to base out with consecutive 1h downward trendline break outs and no immediate breaks back in. ( Yes!! For short strength began to wane a bit!) Soon after the 1H chart began confirming long strength with the upward trendline break out and immediate break back in. (Double Yes!! For long strength kicking back in!) However, at the recent 1h highs, price is giving mixed signals. A 1M Fake Double Top that went its target height.(Showing short term short strength) and moreover, a 1h upward trendline Break out, but no immediate break back in. (Also showing short term short strength) However, if there was truly short term short strength, the 1M Fake Double Top's 2nd Top price level should not be hit. So, at the current moment, price is likely to range a bit. Perhaps a NFP consolidation. But for the time being, I'll still be waiting for a 131.67 pullback for a short entry. Moreover, if the NFP release happens to be the catalyst for the pullback, I may give it a couple of days to see if I can get an even better short entry price. Perhaps at 132.67 with the same risk parameters. OK! That's it for the update! Have a great day guys! Ken Disclaimer: This is not Personal Financial Advice.
Short
by TradingForexPriceAction
1
EUR/JPY Short Trade UpdateHey Guys! As you know, I'm currently waiting for a pullback to at least 131.67 for a short entry with the stop loss at 133.68 and the main target at 114. 40 . On the last 4h move up I didn't get the pullback to my entry level at 131.67 by roughly 8 pips!(Wha-----t?) So I've been watching the lower time frames for signs of short term long strength to see if I can get that pullback. In this video, I show how I was able to tell that we will be getting a move down for the last week or two. Just a short explanation of reading strength of the longs or shorts through price action. So I'll keep you guys updated with this set up! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Short
by TradingForexPriceAction
1
EurJpy can drop 500 pipsTwo days ago I said that EurJpy could correct some and reach 130 zone. However, the pair looks very weak and seems like a break of support is imminent. Looking at a longer TF, we can see that the pair has formed a very large double top starting from April, and a break here would confirm the pattern. I'm bearish this pair and I think that the 500 pips target from the double top will be reached in medium term. Sell rallies can be a good strategy and EurJpy above 130 would negate this scenario
Short
by Mihai_Iacob
2
EURJPY - 4h - Análisis SemanalRisk 1% of your account equity. SL 129.400 TP1 128.000 TP2 127.468 TP3 127.136 Traders, if you like this idea or have your own opinion about it, write in the comments. Patience, Discipline and Good Trade! KISS: Keep It Simple Stupid. LCCJ ................................................................................................................................ Arriesga el 1% del capital de tu cuenta. SL 129.400 TP1 128.000 TP2 127.468 TP3 127.136 Traders, si os gusta esta idea o tenéis vuestra propia opinión al respecto, escribid en los comentarios. Paciencia, Disciplina y Buen Trade! Manténgalo simple y estúpido. LCCJ
Short
by LCCJ
EURJPY SHORT (Mean Reversion)Confluences: 1: Stop loss hunt at previous high on weekly level plus a breakout. 2: Price heading towards high of the June(2021) which is an important supply zone with many retail stops. 3: Price has been moving very quickly which signals an over extended market for the pair. Summary: Price is currently over extended and has been moving in a up trend for 2 almost weeks straight. We are looking for a potential stop hunt at the high of June where many retail stops may be sitting. There's is a potential for strong mean revision to take place allowing big players to hunt some stops and grab some liquidity before we see a continuation to the upside in a few weeks to come. This trade is expected run for the next 8-9 trading days or until the target is reached, whichever comes first. Always remember to Buy to the low and Sell the high. We will see how this current weekly candle closes before looking for any entries early next week.
Short
by NDOBObanks
EURJPY: Bearish PennantEJ is currently at the top of a bearish pennant (Monthly/Weekly T.f) the pattern is also visible on the RSI on the Mly T.f The next target is 126.800 . the target after that is 117.740 . We're currently at a fib level. If price is ever to pick up, it'll do so at this level. But i would wait for a break to the upside, then a restest and continuation before buying ( break and retest of pennant or at least 133.100 level.) the next target if that happens will be 137.400.
Short
by FrenchIvory