EUR/JPY (Long)

EUR/JPY (Long)

Time frame: 4-hour

Long or Short: Long
Entry Point: 124.10
Stop Loss: 123.33
Profit Target: 127.60
R:R : 4.6:1

Trade Explanation: Weekly Open at weekly M2 pivot and last weeks range low. Pin bars to the 89 EMA with 3 bearish impulse waves. Other reasons for possible low, confirming OSMA / SVE RSI I-Fish combo oversold.


Underway


4 Hour Close above Central Pivot Point. Setting Stop to break even, calling it a night.


251 pips profit, room up possibly, however, there are signs in the crosses hinting at a weekly high possibly forming on Eur/Usd. Also looks like Mondays High is going to hold this 4h bar on the close.


Main reason for my early exit, also entering short on EUR/USD triple confluence. Aiming for T1, maintaining 3:1 R:R for S/L.

Until Next week…