EURJPY profit target reached perfectly, time to sell for a short
Sell below 125.13. Stop loss at 125.36. Take profit at 124.63.
Reason for the trading strategy (technically):
Price has shot all the way up and reached our profit target perfectly. We prepare to sell below 125.13 resistance (Fibonacci extension, Elliott wave theory) for a short term setback to at least 124.63 (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is seeing major resistance below 99% where we expect a reaction from.
Reason for the trading strategy (technically):
Price has shot all the way up and reached our profit target perfectly. We prepare to sell below 125.13 resistance (Fibonacci extension, Elliott wave theory) for a short term setback to at least 124.63 (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is seeing major resistance below 99% where we expect a reaction from.