EUR/JPY
In this pair it is clear to see that momentum has shifted from being bullish to becoming bearish
Previously we can see that we consistently creating higher highs and higher lows indicated by the green boxes
We then under went and exhaustion of the bullish pressure, then going to create a Wykoff Distribution schematic indicated by the blue box
we are currently now is a bearish cycle where we are experiencing lower lows and lower highs breaking previous bullish structure looking for more continuation to the downside
Some might be only viewing this on a 4hr and belief that this chart if bullish however a closer look at a daily and weekly shows we a consistently creating lower lows
Price currently just rejected off the 50 fib shown by green line
My Entry = 130.251
S/L130.437
TP-128.528
1:545 RR
In this pair it is clear to see that momentum has shifted from being bullish to becoming bearish
Previously we can see that we consistently creating higher highs and higher lows indicated by the green boxes
We then under went and exhaustion of the bullish pressure, then going to create a Wykoff Distribution schematic indicated by the blue box
we are currently now is a bearish cycle where we are experiencing lower lows and lower highs breaking previous bullish structure looking for more continuation to the downside
Some might be only viewing this on a 4hr and belief that this chart if bullish however a closer look at a daily and weekly shows we a consistently creating lower lows
Price currently just rejected off the 50 fib shown by green line
My Entry = 130.251
S/L130.437
TP-128.528
1:545 RR