Hello traders around the world!
My name is Alexandre Karim.
I want to talk about the trade that I took on EURJPY + How I planned for it.
First of all, if we go back to the Monthly or Weekly chart, we can clearly see that the price reached a mass psychological area around 147.900 / 149.000.
A big ascending channel is formed since 2009 & the price is moving up correctively since March 2020; Which means that the gravity is to the downside.
I was planning to take a short position on that pair.
On November 22 (One day before taking my short position), I noticed an ascending channel with a clear upper TL + multiple touches. I was waiting for the 4th touch on the upper TL and wait for a reversal pattern in this area.
On November 23, the price reached the upper TL & I took a short position on the 15 mins as a consolidation (Mini ascending channel) Moved to BE when the price reached the lower TL @ around 145.077.
Closed my trade at 143.954 (Locked above 1H correction) & out from this trade with 9.76% profit.
My name is Alexandre Karim.
I want to talk about the trade that I took on EURJPY + How I planned for it.
First of all, if we go back to the Monthly or Weekly chart, we can clearly see that the price reached a mass psychological area around 147.900 / 149.000.
A big ascending channel is formed since 2009 & the price is moving up correctively since March 2020; Which means that the gravity is to the downside.
I was planning to take a short position on that pair.
On November 22 (One day before taking my short position), I noticed an ascending channel with a clear upper TL + multiple touches. I was waiting for the 4th touch on the upper TL and wait for a reversal pattern in this area.
On November 23, the price reached the upper TL & I took a short position on the 15 mins as a consolidation (Mini ascending channel) Moved to BE when the price reached the lower TL @ around 145.077.
Closed my trade at 143.954 (Locked above 1H correction) & out from this trade with 9.76% profit.