EURJPY SHORT:
1D chart:
*Sellers trend with breach of structure
*New low formed (characteristic of seller trend)
4H Chart:
*Sellers breach the low making a new low
*Re-test into recent significant structure at 129.300-129.400
*Strong V-formation on 4H chart by the seller (showing their interest)
1H chart:
*Final re-test was weaker than the 100% v-formation on 4H
*Lower Low Lower Close candle with strength
*Good risk to reward
Entry: 129.300/129.400
Take Profit: 127 handle
Risk Rule: *1/4 risk reward ratio setup
*Never risk more than 2% of trading capital per trade
Take profit was hit trade was a success.
Make sure to always do your analysis on setups and have a formulated trading plan on every single trade. Good habits lead to good trades.
1D chart:
*Sellers trend with breach of structure
*New low formed (characteristic of seller trend)
4H Chart:
*Sellers breach the low making a new low
*Re-test into recent significant structure at 129.300-129.400
*Strong V-formation on 4H chart by the seller (showing their interest)
1H chart:
*Final re-test was weaker than the 100% v-formation on 4H
*Lower Low Lower Close candle with strength
*Good risk to reward
Entry: 129.300/129.400
Take Profit: 127 handle
Risk Rule: *1/4 risk reward ratio setup
*Never risk more than 2% of trading capital per trade
Take profit was hit trade was a success.
Make sure to always do your analysis on setups and have a formulated trading plan on every single trade. Good habits lead to good trades.