WITH MOMENTUM IT SHOULD CONTINUE TO FALL DOWN TO CREATE A LOWER LOW.
lol looking for maybe a short....
SELL position on Eur jpy. joping to target lower. on 1HR we have a triple top formation. i have entered on a 1:2 RR as price sometimes makes erratic decisions.
1st taget will be '2' hoping to see price reach the final target.
Hopefully the pull back isnt too big but price should gain momentum to push back down creating a lower low
we should see usdjpy drop before rising back up to finish its job on hitting the weekly highs. news by trump created madness now to recover
123 Heading towards '2' wick aiming to break above and close. also heading towards the 50% retracement level. MONTHLY showing to fill in the Doji wick created in May.
30min 123 on 3 we have good support on 1min along with candlestix and arrow outside ma5 and both wicks on the same level. targeting 3 with a additional entry upon a new signal on the 1min heading in bullish direction towards '3'.
PRICE WILL REACH 152 BUT WE COULD SEE A PULL BACK ON THE DAILY TIME FRAME BEFORE A MOMENTUM MOVE BACK UP OFF SUPPORT.
I will be now posting shorter tf with small SL and accurate entries. which i trade whilst i have my long term swings open in small risk.
'2' AS THE 1ST TARGET EMA ACTED AS RESISTANCE
Just another view of my long term trade on the daily chart. 1st target will be at 2 and the final target will be the high.
We are in a range and i can see good support at this level. Price also tried to break above resistance but failed to do so. now it has pulled back and we seem to have grabbed enough momentum off the current support to break the upper resistance. sl can also be placed under psar.
Not much confirmation on this one but we may see a heavy downside movement to 1122 area. Candles are ranging at the moment so hoping to see a break downwards slowly descending to the target. Still high possibility of breaking to the upside towards my stop since i may be to early on my entry, but i am confident it will become a bearish game.