Pair: EURJPY
Long or short: Short
Timeframe: Daily
Trade rationale: There’s a head and shoulders pattern forming on the daily chart and the 61.8% Fib lines up with the 109.00 handle and a former support level.
Entry: 109.00
Stop loss: Above 110.00, but I plan to trail this by 100 pips once my trade gets triggered
Profit target: 105.00
Chart ? ? ?
Thanks for sharing littlebopip…right now the EUR/JPY is trading at 106.09…do you think it’ll still reach 109 to trigger your order?..looking at a daily chart it seems to be that there is substantial resistance at 108.5…and i see a support level at 105.68…potentially not reaching your TP…but thanks for your trade idea…i think im going to put in a buy order at 105.57…
Should’ve held on to this trade until 96.00!