Entry - 130.045
Target - 129.48
Stop Loss - 130.41
EURJPY has had a run. I expect a brief correction off of an area of resistance (light blue line at 130.23 drawn on a monthly chart). 200MA (dark blue) and 30EMA (green) lines had just crossed. The Ichimoku conversion line (orange) is the only thing preventing a retrace to my target at this point (besides pure momentum), in my opinion. My target will be around where I expect the 30EMA should rise over the next day or so. Stop loss is above recent high and area of resistance. A stop hunt may take me out, but a price jump above this level may keeping climbing.
Thanks for looking.
-Zedro
Target - 129.48
Stop Loss - 130.41
EURJPY has had a run. I expect a brief correction off of an area of resistance (light blue line at 130.23 drawn on a monthly chart). 200MA (dark blue) and 30EMA (green) lines had just crossed. The Ichimoku conversion line (orange) is the only thing preventing a retrace to my target at this point (besides pure momentum), in my opinion. My target will be around where I expect the 30EMA should rise over the next day or so. Stop loss is above recent high and area of resistance. A stop hunt may take me out, but a price jump above this level may keeping climbing.
Thanks for looking.
-Zedro
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My entry was premature on this one. Price fell to my target after shooting up above my stop. Another disappointing trade. I have a few backtested signals, but some have been more reliable than others as of late. For now, I'll stick with my safer set-ups.
-Zedro
-Zedro