EURJPY - H4 Channel Play

FX_IDC:EURJPY   Euro / Japanischer Yen
This is a setup based on selling off the channel highs.

These are the rules I use before I enter a trade.

At channel highs/lows

1. Look for unusual volume (Black Volume ) - This signifies big players have come in.

2. Wait for a retest of the high or a false breakup with low volume

3. Enter after a low/mid volume high spread bar closing on the lows if you are looking to sell.

Have just entered short looking to bottom of channel for profit taking.

SL: 134.50
TP: 131.50
Kommentar: Moving nicely. +135 pips and counting.
Kommentar: very nice drop, do not be catching a falling knife.

about 30 more pips to my TP.

We had a bounce up before it hit our TP.

Price is now moving nicely in an ED channel.

This morning, it did a test of the top of the ED channel on very vol.

With low volume, price is unlikely to break above the ed channel.

Will remain bearish on EURJPY with targets still at 131.50.
Trade wurde manuell geschlossen: Squaring off my EURJPY short with +100 pips of profit.

Might re-enter when price reaches top of channel later in the week.
This dropp is painfull to watch!
@Mairita, painful if you are on the wrong side. Hope it starts to drop next week :)
Mairita TerryHarmonicTrading
@TerryHarmonicTrading, I have sell from todays topp! But this thing just do not want to go below 134.00
@Mairita, don't watch it. Have your stops in place, either tp or sl next week.
Mairita TerryHarmonicTrading
@TerryHarmonicTrading, sl is not option :)
@Mairita, if you can't afford to lose, you probably are not ready to win in trading.
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