EURJPY H1 CHART

EURJPY Triangle Breakout and Trade Opportunity

Forex charts and rates provided by TradingView

Fibo 23.60% Retracement of XA move works as a resistance. ( 133.750 )

We have a triangle pattern on the H1 Chart.

If EURJPY breaks below ( Possible levels 1.33.360 ) the target will be 133.040 and 132.300 ( A possible Bullish Harmonic formation )

If EURJPY breaks above the target will be 134.400. ( Possible break out level 133.800)

I suggest that keep an eye on this triangle and enter the trade in the same direction of the breakout.

Update: December 6th

We reached the target with 100 Pips. 

Forex charts and rates provided by TradingView

EURJPY will test the Fibo 78.60 at 132.300. If it breaks below Fibo 88.60 at 132.020. This region will be our LONG entry.

So we suggest entering LONG trade 132.200 – 132.000 region

STOP LOSS: 131.600

TAKE PROFIT 1: 132.700

TAKE PROFIT 2: 133.300

Good Luck

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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.

If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

WARNING ABOUT TRADE IDEAS

  1. We enter trades on different pairs and we look for other trade opportunities. So we recommend you to enter trades with the smaller size.
  2. Do not exceed 10% margin.
  3. Stop Loss and Take Profit Levels are +/- 15 pips minimum.
  4. If we do not publish an update close the 40% of your position on the TP1 level and move your stop loss to entry level.
  5. Some trades ( especially with 300-500 pips profit target) can take 5-6 days to hit the targets. If you do not have patience, do not enter the trade.
  6. Our aim is to close each with week 2500-3000 pips profit minimum.
  7. If we mention as “pullbacks are buying/selling “ opportunities and we publish pullback levels, you do not need to wait for a signal from us. Use these opportunities at the mentioned levels.
  8. All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly

 

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