Euro / Yen JaponaisShort
Short in EURJPY
I have taken a short position on EURJPY due to price touching a supply zone.
After conducting a thorough analysis of the EURJPY chart, I have identified a compelling opportunity to enter a short position. The price action has recently reached a significant supply zone, characterized by a concentration of sell orders. This area represents a strong resistance level where sellers have previously been active, indicating a higher probability of a downward reversal.
Furthermore, other technical indicators support the validity of this trade setup. The supply zone aligns with a key Fibonacci retracement level, further reinforcing its significance and strengthening the potential for a bearish move. Additionally, the RSI indicator is showing overbought conditions, providing further confirmation of a potential reversal.
Considering these factors, I have executed a short position on EURJPY, aiming to profit from the anticipated downward movement. I will closely monitor the price action for any signs of confirmation, such as bearish candlestick patterns or a breach of key support levels. I will employ proper risk management techniques to protect my capital and ensure optimal trade execution.
As a professional trader, it is crucial to maintain discipline and adhere to my trading plan. I will continuously evaluate market conditions and adjust my strategy accordingly, always prioritizing risk management and aiming for consistent profitability.
After conducting a thorough analysis of the EURJPY chart, I have identified a compelling opportunity to enter a short position. The price action has recently reached a significant supply zone, characterized by a concentration of sell orders. This area represents a strong resistance level where sellers have previously been active, indicating a higher probability of a downward reversal.
Furthermore, other technical indicators support the validity of this trade setup. The supply zone aligns with a key Fibonacci retracement level, further reinforcing its significance and strengthening the potential for a bearish move. Additionally, the RSI indicator is showing overbought conditions, providing further confirmation of a potential reversal.
Considering these factors, I have executed a short position on EURJPY, aiming to profit from the anticipated downward movement. I will closely monitor the price action for any signs of confirmation, such as bearish candlestick patterns or a breach of key support levels. I will employ proper risk management techniques to protect my capital and ensure optimal trade execution.
As a professional trader, it is crucial to maintain discipline and adhere to my trading plan. I will continuously evaluate market conditions and adjust my strategy accordingly, always prioritizing risk management and aiming for consistent profitability.
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