There are some amazing setups forming on the charts, here we have EUR/JPY on a Daily chart with an AB=CD pattern. Straight away this could be an excellent shorting opportunity from the C-D leg move, we will also have a potential long position in the near future upon completing the D leg.
We are bearish on this pair as long as price stays beneath the descending trend line and 200 EMA. Once price hits our C point I will be looking for a short position, breaking our counter trend line!
We are bearish on this pair as long as price stays beneath the descending trend line and 200 EMA. Once price hits our C point I will be looking for a short position, breaking our counter trend line!
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