EURJPY, 16/10/15 @06:19 GMT

SELL@135.30 SL@136.09 TP@133.72 (down to 133.03) <--- Price Levels are INDICATIVE!

FOLLOW THE CRITERIA!

Monitor the pair from H4 Time-Frame. Price wants to make a statistical validation UPward move to the Median Bollinger Band. If you add FIBONACCI RETRACEMENT TOOL to your Chart spreading it on the last downward wave, you’ll see that 50.0 FIB Ratio -which is the most frequent retracement level, is at Tenkan Sen’s level, while 61.8 FIB Ratio, the next most frequent is exactly at Median Bollinger Band’s level. WAIT patiently, for price’s interaction with Median Bollinger Band to FINISH.

When price makes an UP Spike to the Median BBAND or a SWING-HIGH above it, with a Bearish candlestick closing below it, start looking to SELL.

Before you SELL, make sure that :

1. A Bearish H4 Candlestick closes below BOTH Tenkan Sen and Kijun Sen.
2. BOTH Tenkan Sen and Kijun Sen slope DOWNWARDS.
3. Chikou Span goes straight DOWN
4. Stochastics go DOWN
5. The edge of the leading KUMO shows Bearish Momentum increasing.

STAY IN while H4 Candlesticks close below Tenkan Sen.

EXIT when a Bullish H4 Candlestick closes above Tenkan Sen. RE-ENTER Short (SELL) when a Bearish H4 Candlestick closes below BOTH Tenkan Sen and Kijun Sen and BOTH Lines slope DOWNwards.

TRAIL your SL 15-20pips above Kijun Sen Plateaus.

Happy pips!

Sofia

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