EURJPY :
A very favourable close we had yesterday & this adds more weight to our sell call as price has seen strong selling pressure just under the key long term resistance area.
There are very few times when we have price trading at monthly or weekly key levels and sending us clues via price action on shorter time frames like daily or 4 hours and those clues goes in-line with the higher time frame environment & we have the same thing going on at the moment in EURYEN.
Now , we are expecting a move downside till at least the 50% of the recent swing higher and once reached we would take an exit with 1:3 R:R.
We asked to Sell from 121.00
So far , the factors of confluence are adding up to our Bearish bias. We had a nice tailed bar signal rejecting higher prices and the dynamic and static resistance level , also we had a strong rejection of 150exp on the daily (acting as dynamic resistance).
Hope traders got on board!!
We must trade what we see , not what we believe!!!!
A very favourable close we had yesterday & this adds more weight to our sell call as price has seen strong selling pressure just under the key long term resistance area.
There are very few times when we have price trading at monthly or weekly key levels and sending us clues via price action on shorter time frames like daily or 4 hours and those clues goes in-line with the higher time frame environment & we have the same thing going on at the moment in EURYEN.
Now , we are expecting a move downside till at least the 50% of the recent swing higher and once reached we would take an exit with 1:3 R:R.
We asked to Sell from 121.00
So far , the factors of confluence are adding up to our Bearish bias. We had a nice tailed bar signal rejecting higher prices and the dynamic and static resistance level , also we had a strong rejection of 150exp on the daily (acting as dynamic resistance).
Hope traders got on board!!
We must trade what we see , not what we believe!!!!
