POSSIBLE BULLISH SETUP AT WPP ROLE REVERSAL SUPPORT.

EURJPY H4

MARKET IS BULLISH, 21 ABOVE THE 55. PRICE PRINTED A HIGHER HIGH AND NOW A POSSIBLE HIGHER LOW. STOCHASTICS IS FACING SOUTH. I HAVE IDENTIFIED SUPPORT AT WPP WHICH IS ALSO IN THE FIB ZONE SWEET SPOT. IF BULLISH MOMENTUM IS STRONG ENOUGH TO BREAK THROUGH WM3/MM3 RESISTANCE, I EXPECT PRICE TO GET TO WM4 OR WR2 AS POTENTIAL TARGETS.

EURJPY H4 POST TRADE PLAN

MY PLAN WAS TO LONG THIS PAIR AT WPP SUPPORT WHICH WAS ALSO THE FIB ZONE. I BOUGHT THE HIGHER LOW BUT WAS KNOCKED OUT AT BREAKEVEN DUE TO FUNDAMENTALS THAT WEAKENED THE EURO AND REVERSED THE UPTREND.

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