EURJPY Short Trade idea
RSI has just broken below EMA as a short signal confirmation. Price has formed head and shoulders pattern on the M30 timeframe
and has respected top trend line of the bullish channel it is currently in. Wave pattern formed is a three wave leading diagonal
forming a WXY corrective structure as the ABC structure has been completed to scale. Now the Y leg is usually the same size
as the W leg and so the long term motion would be a possible break below the channel and a continuation to Y.
I hope you enjoyed this post, I am developing a knack for complex corrective structures. Let me know what you think
about this post either in the likes section or the comments section. I would highly appreciate your views on this pair.
Targets: Short term...
-121.400
-121.100
-120.800
Long term:
-117.500
and has respected top trend line of the bullish channel it is currently in. Wave pattern formed is a three wave leading diagonal
forming a WXY corrective structure as the ABC structure has been completed to scale. Now the Y leg is usually the same size
as the W leg and so the long term motion would be a possible break below the channel and a continuation to Y.
I hope you enjoyed this post, I am developing a knack for complex corrective structures. Let me know what you think
about this post either in the likes section or the comments section. I would highly appreciate your views on this pair.
Targets: Short term...
-121.400
-121.100
-120.800
Long term:
-117.500
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