EJ Daily Short Idea - Double Top/Shooting Star Formation
EURJPY Short Breakout Idea
Last week was choppy for a 150 pip range.
The Bearish engulfing candle on Friday suggests downside could be the new bias.
Overbalanced Double top formed (highlighted by two highs in blue ellipse)
Shooting star touch of major key level and rejected price (highlighted in blue ellipse)
Realistically want a break of the current trend line 3rd bounce (pointed to via arrow)
50% Fib is what you want a daily/h4 close to be below for entry.
Target area to be updated. Not surprised to maybe see 123.000
Last week was choppy for a 150 pip range.
The Bearish engulfing candle on Friday suggests downside could be the new bias.
Overbalanced Double top formed (highlighted by two highs in blue ellipse)
Shooting star touch of major key level and rejected price (highlighted in blue ellipse)
Realistically want a break of the current trend line 3rd bounce (pointed to via arrow)
50% Fib is what you want a daily/h4 close to be below for entry.
Target area to be updated. Not surprised to maybe see 123.000