Greetings traders,
Today, I want to share with you a potential sell setup on EURJPY. The pair is currently trading near a strong daily resistance level, which is also a previous supply zone. Moreover, we have identified a bearish harmonic AB=CD pattern on the chart, which adds more confluence to the sell setup.
To trade this setup, we will wait for a bearish confirmation such as a bearish engulfing pattern or a double top formation on the lower time frame. Once we have a confirmation, we can look for a sell entry with a stop loss above the resistance level. Our profit targets will be set at the previous structure support and beyond.
As traders, it is crucial to always manage our risk and use proper risk management techniques. Remember to never risk more than you can afford to lose.
If you found this analysis helpful, please consider following me for more trading insights and analysis. I would also appreciate it if you could like and comment on this post to let me know your thoughts and feedback.
Thank you for your attention and happy trading!
Today, I want to share with you a potential sell setup on EURJPY. The pair is currently trading near a strong daily resistance level, which is also a previous supply zone. Moreover, we have identified a bearish harmonic AB=CD pattern on the chart, which adds more confluence to the sell setup.
To trade this setup, we will wait for a bearish confirmation such as a bearish engulfing pattern or a double top formation on the lower time frame. Once we have a confirmation, we can look for a sell entry with a stop loss above the resistance level. Our profit targets will be set at the previous structure support and beyond.
As traders, it is crucial to always manage our risk and use proper risk management techniques. Remember to never risk more than you can afford to lose.
If you found this analysis helpful, please consider following me for more trading insights and analysis. I would also appreciate it if you could like and comment on this post to let me know your thoughts and feedback.
Thank you for your attention and happy trading!
