Unlike my GBPJPY setup yesterday, EURJPY was good, I thought.

I sold this pair from 130.81, and still holding the trade.  I like H4 Stochastic going down.  So perhaps I will hold this position until Stochastic reaches to 25%.

2015-12-03_14-14-40-EJ1

 

We should not forget what Bull wants to do…  Bulls want to buy from Fib38.2-61.8%…  So I should be careful about the price actions.

2015-12-03_14-16-03-EJ2

 

However,  I am a Bear.  So I will just wait and see.   If you are Bear and want to join this Short trade, here is the next possible entry.

On Hourly chart, Stochastic will turn into Up cycle, and when the up cycle is over, please check the price.  If the price is either Double top, or Lower High, then that’s the sell opportunity.

However, if the price makes Higher High, then you can simply call me “fool” 🙂 and forget about this setup.

2015-12-03_14-17-43-EJ3

 

 

Hope this setup helps your analysis.

 

YJ Baik – Forex.Today @ Tokyo

 

2 thoughts on “EURJPY Trade Setup Cont. (Dec 3)”

  1. cat says:

    lucky for me i got out short with 42 pips

    1. YJ Baik - Forex.Today says:

      Hi Cat,

      Good to hear you got 42 pips!

      Myself? I moved the stop to Even before ECB announcement, and of course, kicked out as Even. 😉

      I should’ve taken the profit.

      Anyway, I am glad you got pips!!

      Best

      YJ

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