My long term projection for EUR JPY
Note this is a long term projection based on daily price action.
As expected liquidity was taken from the equal highs of February, March and April, the next step is for Smart money to push price
higher to mitigate the weekly candle which is overlapped by the institutional candle of 13/1/2020, also meeting an institutional price level of 122.00.
After mitigating this area, price is expected to retrace down to mitigate the imbalance of price action created during the most recent bullish rally and the remaining liquidity which is still left to take, look out for a high probability retrace.
Now after knowing our short term and long term bias we can start taking trades along the way.
Want to know more about how I trade? get in touch, happy to help.
As expected liquidity was taken from the equal highs of February, March and April, the next step is for Smart money to push price
higher to mitigate the weekly candle which is overlapped by the institutional candle of 13/1/2020, also meeting an institutional price level of 122.00.
After mitigating this area, price is expected to retrace down to mitigate the imbalance of price action created during the most recent bullish rally and the remaining liquidity which is still left to take, look out for a high probability retrace.
Now after knowing our short term and long term bias we can start taking trades along the way.
Want to know more about how I trade? get in touch, happy to help.
Komen:
I did not notice the time span of my projection. I spect Price to reach the end of the blue projected line by mid June if not earlier.