Waiting for a breakout of the triangle for EURJPY
Just like GBPJPY we will await for a clear breakout of the triangle.
The reason i put the short where i did was because the other two candle was caused by fundamental news but for the most part the triangle resistance has been respected.
I am shorting it if it goes below the last lower low. If it does not make it past that i will wait for it to either go long or not take a trade at all.
In either case lets wait for a clear break out of the triangle before taking any trades.
Some of you may want to take the trade a few more pips above the last higher high if you are going long
or
Take it a few more pips below the last low ensuring you will not get stopped out.
As per my usual trading style i will only risk 25 pips.
Lets hope it goes well!!
The reason i put the short where i did was because the other two candle was caused by fundamental news but for the most part the triangle resistance has been respected.
I am shorting it if it goes below the last lower low. If it does not make it past that i will wait for it to either go long or not take a trade at all.
In either case lets wait for a clear break out of the triangle before taking any trades.
Some of you may want to take the trade a few more pips above the last higher high if you are going long
or
Take it a few more pips below the last low ensuring you will not get stopped out.
As per my usual trading style i will only risk 25 pips.
Lets hope it goes well!!