EUR/JPY Rising Wedge
Chart: Daily Time frame
Market: Bearish Trend
Bearish Indicators
1. Double top found at key 128.000 resistance level
2. Bearish Engulfing Candle (1st of April)
3. Price rejects 128.000
4. Rising wedge chart pattern
5. Double top & bearish engulfing pattern are all found just below the daily/weekly trendline resistance level
Risk Management
Risk/Reward Trade 1 - 1:1.70
Risk/Reward Trade 2 - 1:2.96
Stop Zone (trade 1 & 2) - 128.380 (just above 31st of march high)
Target 1 - 125.500
Target 2 - 124.100
Note: Price could pull back 127.600 before continuing lower, trade with caution.
Agree/Disagree? Comment Below!
Market: Bearish Trend
Bearish Indicators
1. Double top found at key 128.000 resistance level
2. Bearish Engulfing Candle (1st of April)
3. Price rejects 128.000
4. Rising wedge chart pattern
5. Double top & bearish engulfing pattern are all found just below the daily/weekly trendline resistance level
Risk Management
Risk/Reward Trade 1 - 1:1.70
Risk/Reward Trade 2 - 1:2.96
Stop Zone (trade 1 & 2) - 128.380 (just above 31st of march high)
Target 1 - 125.500
Target 2 - 124.100
Note: Price could pull back 127.600 before continuing lower, trade with caution.
Agree/Disagree? Comment Below!
Nota
Trade 1, Target 1 reached.Nota
Trade 2, Move stop to break even.Nota
Trade 2, Stop Moved to 126.750Nota
Trade 2, Stop Moved to 125.780Nota
Trade 2: Further downside expected over the next week, T/P moved to next level 123.400Nota
Trade 2: Target Reached. Trade closed.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.