Intraday LONG on the EURJPY with a bias
See realted IDEAS about our EJ setups right here.
As price is still inside our PRZ (Bull Butterfly) We do still have a valid Pattern. And Take note that we also have Bias to go LONG on this Market. So instead of the TP1 and TP2 we can go and take extended target on the HR4 pattern formation. IT would give us at least a good and a great risk:reward ratio. Trade management must be applied. Take note that the Bullish Butterfly Pattern is still Valid. As long we're not yet stop out on the trade with a 1:1 RR on the TP1 alone.
As price is still inside our PRZ (Bull Butterfly) We do still have a valid Pattern. And Take note that we also have Bias to go LONG on this Market. So instead of the TP1 and TP2 we can go and take extended target on the HR4 pattern formation. IT would give us at least a good and a great risk:reward ratio. Trade management must be applied. Take note that the Bullish Butterfly Pattern is still Valid. As long we're not yet stop out on the trade with a 1:1 RR on the TP1 alone.
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This is the setup on the HR4.
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If you have entered on the Butterfly PRZ, TP1 is already attained.
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If you have entered on the Butterfly PRZ/ TP2 is already attained with 1.3 pips shy (consideting 2 pips of allowance for your spreads.) And take note that we have pattern formation on the HR4. Check related ideas.
