This is an interesting setup on EURJPY. Daily is respecting 3 criteria of my strategy so I'm eager to enter the trade, especially with weekly showing at least some pullback occuring. But that's what makes trading so intense, is that, of course, is not true on 4H timeframe.
If I was looking only at 4H TF I would long EURJPY instantly, but in my book, higher TF beats lower TF.
But... I didn't put monthly TF on this charts, because monthly is more bullish than bearish!
I could go crazy on it so I decided to go short with a small SL.
Let's see what the market gives to me.
If I was looking only at 4H TF I would long EURJPY instantly, but in my book, higher TF beats lower TF.
But... I didn't put monthly TF on this charts, because monthly is more bullish than bearish!
I could go crazy on it so I decided to go short with a small SL.
Let's see what the market gives to me.
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SL hit.
I spent a bit of time this morning to check my original plan and I have to admit that it's not going at all on my way.
Monthly, weekly, daily and 4H are bullish. In this case, I suspect a big short to happen to shaken all long but not for too long... If that's not the case we are doomed.
So my plan is to see how 4H behave today and tomorrow and then advise.