EURJPY - Exciting SELL opportunity with big potential! 🔻
Aggiornato
As shown on the charts by multi-timeframe analysis, from weekly down to daily and hourly, we can establish a clear bearish bias for EURJPY.
Noteworthy observations:
- the liquidity pool on weekly timeframe is very obvious and price will eventually go for it, so I keep that in mind.
- untested hammer head on daily timeframe is also very obvious and it usually acts as a magnet for price.
Depending on how aggressive you want to be with this trade if it works out, entry could be a price action confirmation signal near the buy zone or a sell limit order.
I will closely observe the price action near the first target and make a decision whether to close my trade there or adjust my stop loss to the second target.
If I have a strong bias that price is ready to make a run on the liquidity pool, I may re-enter the trade after exiting.
Noteworthy observations:
- the liquidity pool on weekly timeframe is very obvious and price will eventually go for it, so I keep that in mind.
- untested hammer head on daily timeframe is also very obvious and it usually acts as a magnet for price.
Depending on how aggressive you want to be with this trade if it works out, entry could be a price action confirmation signal near the buy zone or a sell limit order.
I will closely observe the price action near the first target and make a decision whether to close my trade there or adjust my stop loss to the second target.
If I have a strong bias that price is ready to make a run on the liquidity pool, I may re-enter the trade after exiting.
Ordine annullato
No trade here for me today. I was looking for some bearish price action around the entry zone but did not get it. After the news, price went up in a straight line.I will be keeping an eye on this pair as I believe the price will make a run on that weekly liquidity pool eventually.
Being wrong isn't a bad thing like they teach you in school. It is an opportunity to learn something.
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