Looking at EURJPY pair, i am seeing a downtrend that have been forming from 5 January 2019 till now
that is I basing on the DAILY timeframe,EURJPY have been forming Low Hghs(LH) and Low Lows(LL),for
the past months.
DAILY TIME FRAME
Takin a look at the pair today (11Nov2019) it seems as it is still respecting the movement in the DAILY
timeframe (Downtrend), however as we see on the Chart EUR seems to be gaining strength againist the JPY
, seeing this might come up with an opportunity to take the ride as it goes up to touch the upper trendline
i draw (where it is being touched by the 2 highs).
There is a probability that the EURJPY may go up to touch that trendline (that might in the longrun basing
on the Timeframe i am using.
So on the Daily timeframe i may take BUY that is Buying EUR while selling JPY, but this should be seen
under propeer risk management since a buy here will be a SWING trade.so always risk the amount of money you afford to lose.
NB : Trading is a game of probability ,(one may be right today and wrong tommorrow so always use proper risk)
FOUR (4HR) HOUR TIME FRAME
Looking at EURJPY under the 4hr timeframe i am seeing a probable opportunity to sell EURJPY for a small
pip movement and gain (with a sl always).
Reason of thinking this way i am seeing a UpTrend within the 4hr timeframe , and the pair have touched the
trendline i have drawn in the diagram , i would take this trade as a sell if it break or touches 119.800 and
and taking profit a my desired tp 119.237.
Basing On The Daily timeframe i might take a Buy after i find more confleunce to enter the trade first of all
including a proper risk to reward ratio since i missed the buy at a lower point.
On Four Hour timeframe that would be short term sell and buy
NOTE : I am not a financial Advisor of any king i am here to learn and to share my trading journey as
i learn alongside you who would love to be learning and discussing with me.
i will try to keep upto date and post the progress of successful trades and unsuccessful trades.
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