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EURJPY Fibonacci Retracement Consolidation

EURJPY Fibonacci Retracement Consolidation

Trade Setup No: CUEUJP03071802

CURRENCIES

INSTRUMENT: EURJPY

CHART TIME FRAME: H1

PATTERN / INDICATOR: Consolidation Zone Breakout

PROJECTED PRICE ACTION: EURJPY is consolidating between 131.400 – 131.100.  H1 Candlestick Closing Below 131.100 will carry the price 130.700 and 130.400.

TRADE: SHORT

ENTRY: 131.100 – Closing Below –

STRUCTURAL STOP:  131.450

TARGET 1:  130.700

TARGET 2: 130.400

If the pair does not break below  131.100 and closes above 131.400, the target will be 132.300. Bearish Crab Would be completed at the D Leg 132.300.

 

 

EURJPY Fibonacci Retracement: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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