EUR/JPY sell

26 déc. 2023

EURJPY

https://www.tradingview.com/x/hzTAsQKC/

1. On both the Daily and 1H, we are below the 3x3 DMA (Purple) and the 25x5 DMA (Green)

2. MacD on the Daily is showing an uptrend but on the 1H we are seeing a MacD crossover to return back to the downtrend.

3. For our 2nd indicator we have the detrended price oscillator. I use these for overbought and oversold areas. (Mainly for prices where i would like to take profits at or look for possible entries but moreso for levels to take profit at.

4. On the daily, the stochastic is showing a reversal back to the downside along with the 1H stochastic which is continuing in a downtrend.

5. This will be a 4.9 RR trade which implies a tight stop loss and larger take profit. To calculate these areas, the TP level is from a weekly fibonacci expansion level of 1.0 from the high of this downtrend which started on 08/21/23. Stop loss was determined by the fibonacci area on the 1H just at the 61.8% level.

Entry: 1.74473
SL: 1.74734
TP: 1.73363