EURJPY : Market’s Overview

EURJPY : using ICHIMOKU, Bollinger Bands, Fractals and Stochastics, we see that although the pair made an UPward statistical validation move to the Median Bollinger Band on H4 Time-Frame, forming a Swing High where an UP Fractal already appeared, giving signal of bearish continuation, it is being balancing there for the last 16hours making many Traders nervous and ready to quit. Don’t be one of them, because after you close your position -due to lack of patience- you may come back 8hours later and see that the price plunged 250pips lower right after you exited.

Swing High above the Median Bollinger Band, Stochastics having made a bearish crossover going down, and Median Bollinger Band going DOWN mean…..WAIT….the pair will fall lower.

If you are out and want to enter Short (SELL), before you SELL make sure that on H4 TF :

1. A bearish candlestick closes below Tenkan Sen (ICHIMOKU Red Line)
2. Tenkan Sen is angled Downwards
3. Kijun Sen (ICHIMOKU Blue Line) is sloping downwards.
4. Chikou Span (ICHIMOKU Green Line moving in the past) is moving below past price action going straight down
5. The lower edge of the leading KUMO is sharp pointing downwards
6. The Upper edge of the leading KUMO is curved/sloping downwards.

Place your SL above Kijun Sen Plateau , a few pips above the lower border of the KUMO and trail it above each new Kijun Sen Plateau. TP target can be placed at 132.67 after that at 128.83 and even down to 127.48 So this move is worth having all the patience in the world.

Happy pips!

Sofia

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