EURJPY (CROSS) LONG Trade Setup! En-route to 128.000 level

TRADE TYPE: INSTANT EXECUTION AT AROUND 125850 LEVEL
TRADE TYPE: BUY (LONG POSITION)
STOP LOSS: 123.875
TAKE PROFIT: 128.000

PRICE HAS ALREADY CLOSED ABOVE THE DYNAMIC RESISTANCE OF DAILY 50 EMA GIVING ME ENOUGH CONFIRMATION TO GO LONG ON THIS TRADE. Furthermore The EUR is likely to appreciate soon against the USD because of incoming USD weakness. The price is currently confined in a channel and is likely to be en route to 128.000 level where the weekly 50 EMA is also present. there are various technical aspects and fundamental parts that are not visible on such short timeframes. On a longer timeframe based on support and resistance levels the CROSS seemed to be headed up for now.

cheers, shall there be any updates i would be providing them in this thread.

Transaction en cours

Trade fermée manuellement:

Please close the trade. Slight profit.

Technical levels and indicators are showing signs of reversal. Maybe at the beginning of next month we can execute this trade again depending on where the monthly candle closes.

Commentaire:

MONTHLY CANDLE HAS CLOSED ABOVE THE MAJOR RESISTANCE LINE SUGGESTING AND GIVING FURTHER CONFLUENCE THAT THE PRICE IS HEADED TOWARDS THE 128.000 LEVEL.

I SHALL WAIT FOR THE PRICE TO RETRACE BEFORE MAKING AN ENTRY SO AS TO GET US AN EVEN RISK TO REWARD RATIO

Transaction en cours:

TRADE TYPE: INSTANT EXECUTION AT AROUND 126.840 LEVEL
TRADE TYPE: BUY (LONG POSITION)
STOP LOSS: 125.685
TAKE PROFIT: 128.000
RR: 1:1