EURJPY - Top-Down Analysis!
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DAILY: Right Chart
EURJPY is approaching a strong resistance in green and upper brown trendline so we will be looking for sell setups on lower timeframes.
M30: Left Chart
EURJPY is forming a channel in red but the lower trendline is not valid yet, so we are waiting for a new swing low to form around it to consider it our trigger swing.
Trigger => Waiting for that swing low to form and then sell after a momentum candle close below it (gray zone)
Meanwhile, until the buy is activated, EURJPY would be overall bullish can still trade higher inside the green resistance.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
DAILY: Right Chart
EURJPY is approaching a strong resistance in green and upper brown trendline so we will be looking for sell setups on lower timeframes.
M30: Left Chart
EURJPY is forming a channel in red but the lower trendline is not valid yet, so we are waiting for a new swing low to form around it to consider it our trigger swing.
Trigger => Waiting for that swing low to form and then sell after a momentum candle close below it (gray zone)
Meanwhile, until the buy is activated, EURJPY would be overall bullish can still trade higher inside the green resistance.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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