EURJPY SHS Pattern and Additional Short Opportunity
Yesterday we have entered short trade targeting 130.900. Trade is going well. we have reached our first target.
We have an additional short opportunity.
Pair / Instrument: EURJPY
Time Frame: H1
The trend in the Timeframe: NEUTRAL
The trend in the Daily Chart: BULLISH
Description: EURJPY will complete a possible SHS pattern. Neckline is 130.870. Break below the neckline will trigger the bearish move.
Trade Based On: HEAD AND SHOULdERS PATTERN
Entry: 130.840 – WAIT FOR THE BREAKOUT –
Stop Loss: 131.150
Take Profit 1: 130.400
Take Profit 2: 130.000
Notes: Entry Alert will be sent to members.
Link to follow the chart and idea: EURJPY Trade Idea
Update: We close 70% of our positions with 65 pips. Move our SL to entry. We will wait for a long opportunity at 130.050 based on bullish shark pattern. We will update and send entry notification to our members.
Rules To Keep In Your Mind: Trade Safe. Money Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on
EURJPY Trade Idea: 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