I’m learning how to add notes and such on charts so don’t be too hard on me. Descending tops on daily chart of EURJPY
Good downtrend.
I don’t use the off-chart indicators you’ve posted up but plenty of people do, with good results.
People get fed up of me saying that a trend is a process, not an event. And this one has turned consistently more bearish since the first clouds appeared on the horizon - for me the first sign was failure to breach and close above the high of 144.26 08/06. After that the bears gave some more signals until I now have this as a long-term sell.
The consistency of the downtrend development signals on this one is good for me to see, as much as the consistency or depth of the trend itself.
I’m noticing EURJPY is having a pretty good up day. Me thinks this would be a good day to open that short position.
Just sold my USDJPY to raise cash to short EURJPY which I see having a recent double top and descending tops.
Been hoping for a big green bar to jump in with my short, and here it is.
I’ve got a sell order for 136.635. Just waiting for a fill. I’m right between the bid and ask.
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