EURJPY short, for 150 pips

6 בדצמ׳ 2021

3 confluences for this trade: We had a series of LL's and LH's being made, and then a BOS and retracement into our golden zone which presented us with our entry. We also had support from our 50, 100, and 200 EMA's, aswell as support from a basic downtrend line. (Trendlines hold little significance on the lower time frames). The last confluence was the tweezer top that had formed on the 4H, on the H1 we had a hanging man candle to indicate a reversal. JPY pairs had finally gained strength in the month of October, so it was time to short the opposing pairs.