Shorting EURJPY

13 thg 3, 2016

The main chart behaviour of this is downward trending. The current minor trend is upwards, however the price is expected to touch the trend line and go down. The previous support level and my predicted support (in green) shows how the price has bounced downwards or is going to bounce from these levels. I'm looking for a reversal pattern in the brown circle area to indicate that the minor trend is reversed in favour of the current major trend. My exponential moving averages will give me possible sell signals as soon as they start crossing downwards in favour of the major trend. I'm looking to stay in this trade for about a month or so. My risk to reward could be massive if this goes in the right favour