This pair is bouncing off its trendline now , have a look at H4 chart above you'll see this.
So it's good to wait the price to go below its hourly 200sma in the hourly chart.
Any closes below its hourly 200sma and short-term trendline will be my place to go short this pair.
In other hand if the longer term (H4) trendline be broken then we wait for a long setup.
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Showing posts with label moving average. Show all posts
Showing posts with label moving average. Show all posts
Wednesday, October 13, 2010
Saturday, October 9, 2010
$EURJPY short setup
Hello traders, Have a nice weekend.
I have find a great short setup on EURJPY and I think it is a great opportunity to go short.
On the hourly time frame there is a green trendline that connects swing lows in a good manner.
That trendline is broken now and there is a great pull back around that broken trendline and also 200sma in the hourly chart.
You can zoom in to the H1 chart(second image above) , so that you can see 200sma in yellow and the trendline I've mentioned before.
Short Setup: We'll wait for a nice bearish candle in H1 to close below 200sma and trendline so I'll go short.
Note that if the price breaks the 200sma and goes beyond it then this setup will not be valid.
Have a nice Saturday.
I have find a great short setup on EURJPY and I think it is a great opportunity to go short.
On the hourly time frame there is a green trendline that connects swing lows in a good manner.
That trendline is broken now and there is a great pull back around that broken trendline and also 200sma in the hourly chart.
You can zoom in to the H1 chart(second image above) , so that you can see 200sma in yellow and the trendline I've mentioned before.
Short Setup: We'll wait for a nice bearish candle in H1 to close below 200sma and trendline so I'll go short.
Note that if the price breaks the 200sma and goes beyond it then this setup will not be valid.
Have a nice Saturday.
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