EURJPY - 11/07/2021 - SELL
Market has overall been bearish.
Originally missed a Sell opportunity earlier on in the market, analysis is showing hopefully a Re-entry for the major sell.
4H TF shows low highs and lower lows, perfect opportunity to catch one of the retraces for a perfect sell opportunity.
Both retraces so far breached the 50MA, I assume the retrace will do the same again, however to counter act that I will place a Sell Stop and as well as a Sell Limit for if it actually does cross the 50MA (The Sell Limit I have a placed is a rough prediction).
I believe market will continue long term to the Support Zone shown, hoping for a profit of +411 Pips with a risk of -30 Pips.
After publishing I will probably move a TP further back up the market to secure profits, the TP shown is meant for an idea of the overall Pips collected.
Originally missed a Sell opportunity earlier on in the market, analysis is showing hopefully a Re-entry for the major sell.
4H TF shows low highs and lower lows, perfect opportunity to catch one of the retraces for a perfect sell opportunity.
Both retraces so far breached the 50MA, I assume the retrace will do the same again, however to counter act that I will place a Sell Stop and as well as a Sell Limit for if it actually does cross the 50MA (The Sell Limit I have a placed is a rough prediction).
I believe market will continue long term to the Support Zone shown, hoping for a profit of +411 Pips with a risk of -30 Pips.
After publishing I will probably move a TP further back up the market to secure profits, the TP shown is meant for an idea of the overall Pips collected.
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