Looking at the four hours chart I saw an opportunity to enter short EUR/JPY.
Here my reasons:
- It’s the first big correction in the last three months.
- Strong bearish convergence between the price and RSI.
- At the time even couldn't rich the level of R1.
- It is drawing a continuity triangle.
- A death cross was formed recently between EMAS 30 and 50.
How did I plan to trade it:
I enter short near R1, and put my stop loos over R1, theprofit will be reached before the EMA (200) and S1.
And as always my Idea …