EURJPY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: The daily timeframe is bullish but we can see clearly on the 4hour that price action is retracing and still needs to form structure before we look to higher targets.
Ideally we see a higher low form near 131.300 which is a great confluence area.
Trade scenario 2: If we see a break of 131.300 with a lower high below we can begin looking for short opportunities.
Weekly Trend: Bearish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: The daily timeframe is bullish but we can see clearly on the 4hour that price action is retracing and still needs to form structure before we look to higher targets.
Ideally we see a higher low form near 131.300 which is a great confluence area.
Trade scenario 2: If we see a break of 131.300 with a lower high below we can begin looking for short opportunities.