Heres how I currently sit on EUR/JPY.
Again following what I had outlined on the weekend across the higher time frames, the hourly formed enough confluences for me execute a long trade...targeting a 75 pip upside target with a risk:reward of 1:3.
125.000 acts as key hourly resistance on this pair so it is important that we break and close above this level for me to continue supporting a long bias. During the Draghi talks we had a perfect pullback and retest of 124.800 which I had highlighted as a key zone for multiple reasons...not to be mentioned (some secrets must remain secrets.)
I now believe we have fulfilled plenty of long orders and the momentum is there for us to stretch higher. Unfortunately I did not obtain my best, preferred entry but this will do.
Win or Loose I really don't mind..don't get emotionally attached to your trades, you'll be led down a deep, dark route.
Again following what I had outlined on the weekend across the higher time frames, the hourly formed enough confluences for me execute a long trade...targeting a 75 pip upside target with a risk:reward of 1:3.
125.000 acts as key hourly resistance on this pair so it is important that we break and close above this level for me to continue supporting a long bias. During the Draghi talks we had a perfect pullback and retest of 124.800 which I had highlighted as a key zone for multiple reasons...not to be mentioned (some secrets must remain secrets.)
I now believe we have fulfilled plenty of long orders and the momentum is there for us to stretch higher. Unfortunately I did not obtain my best, preferred entry but this will do.
Win or Loose I really don't mind..don't get emotionally attached to your trades, you'll be led down a deep, dark route.