The following is EURJPY 4 hr chart as of Jan. 15th 12 AM EST. If you observe the chart you can see that there is a resistance line at the bottom of the chart and the resistance line broken with a strong bearish candlestick. Moreover CCI and Stochastics haven’t reached the oversold region yet. I am thinking that it will follow a downtrend now. What do you guys say?
EURJPY short trade opportunity
The strategy is very simple and works very well. You can find a lot of trading opportunities using this strategy. This strategy involves only parabolic SAR indicator with default settings. Indicators: Parabolic SAR with default settings (Step: 0.02, Maximum: 0.2) Time Frame: Hourly But you need to observe the parabolic SAR on the higher time frame of daily chart. Markets Sessions … [Read More...]
I think you better check for the hourly graph also. In the hourly graph also there is strong resistance and it was broken.
