In recent time, I had a post on EURJPY with this exact post title but with completely different set up as this one. In that set up, price traded up a few pips and declined afterwards. I hope this one finds its way to the Target.
In this set up, The demand channel appeared on 4-Hour time frame while narrowing things down to 1-Hour time frame, a symmetry triangle formed.The symmetry triangle is actually inside the demand channel; the support side of the channel and the triangle are in confluence which gives me a strong impression that price will rally.
A pending order was placed at 86.42 with Stop Loss at 86.02 -- 40 pips away from entry. Target at 88.84 -- 242 pips-- which is the resistant side of the channel. I see no level (as far as my technical tools are concern) to stop price from getting to its target. However, like always, I will be wary of what Stochastic has in store.
0 comments:
Post a Comment