EURJPY Daily Analysis
W - Bullish, price looks like it may have completed it's retracement.
D - Bearish, lower lows and lower highs, however price is at the last high
4 - Bullish, very very strong push up. very over extended. rsi shows price is over extended as well
1 - bullish, price is in a flag pattern
scalping entries -
price is so over extended that I don't want to take any long positions until I see a retracement. the flag pattern is typically a continuation pattern so I may be just observing today. on top of the choppiness, NFP is coming out tomorrow so price may be slow today waiting for the major news to come out.
if there is a break an retest below the flag I will enter a short but I don't think that price will have the time to do that today.
D - Bearish, lower lows and lower highs, however price is at the last high
4 - Bullish, very very strong push up. very over extended. rsi shows price is over extended as well
1 - bullish, price is in a flag pattern
scalping entries -
price is so over extended that I don't want to take any long positions until I see a retracement. the flag pattern is typically a continuation pattern so I may be just observing today. on top of the choppiness, NFP is coming out tomorrow so price may be slow today waiting for the major news to come out.
if there is a break an retest below the flag I will enter a short but I don't think that price will have the time to do that today.
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