Hi Traders. If you've watched yesterday's analysis on EURJPY, I talked about multiple scenarios.
1. If price breaks below 137.20 showing more Bearish momentum, it could be a sign of continuation.
2. If price rejects 137.20, do not try to shift your bias too soon yet, because when price is in a downtrend, any resistance structure is still a value area to join the sell (in this case 139)
So, always have multiple plans prepared, so when market does a certain way, it doesn't panic you but instead you simply view it from a different angle.
I personally, will still be looking for short opportunities as I respect the flow of the market, 139 is a decent area. But if at any point price breaks above 139, then the short setup is invalid.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
1. If price breaks below 137.20 showing more Bearish momentum, it could be a sign of continuation.
2. If price rejects 137.20, do not try to shift your bias too soon yet, because when price is in a downtrend, any resistance structure is still a value area to join the sell (in this case 139)
So, always have multiple plans prepared, so when market does a certain way, it doesn't panic you but instead you simply view it from a different angle.
I personally, will still be looking for short opportunities as I respect the flow of the market, 139 is a decent area. But if at any point price breaks above 139, then the short setup is invalid.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
