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 is to keep it simple and my strategy consists on balancing the probabilities for each order and move the stop loses as soon as possible in order to minimize the risk.


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