On January 24 2025 I posted on social media @AidanFX the EURJPY bearish sell setup.
i. Price enters and respects bearish 4 Hour supply zone (Gray Box)
ii. Bearish harmonic market pattern forms and terminates pattern in supply zone (Light Blue) signalling reversal lower.
iii. Bearish regular divergence pattern (Red) forms and terminates in supply zone signalling a reversal lower
All above combined was enough for me to enter 1st sell entry (Green) with confidence.
EURJPY 15 Minute Chart January 24 2025 (1st Entry Green)
On January 27 2025 the 3R target hits and I closed 1/2 of the sell position for +1.5% locked in and moved remaining 1/2 position to entry.
EURJPY 15 Minute Chart January 27 2025 (1st Entry half position closed)
On January 28 2025 I posted on social media @AidanFX the 2nd EURJPY sell setup.
i. Price respects bearish 15 minute supply zone (Pink Box) with a move lower.
ii. Price respects previous support now resistance level (Black) signalling more downside.
iii. Bearish regular divergence pattern (Brown) forms and terminates in pink supply zone.
iv. Price taps in 2nd bearish 15 minute supply zone (Green Box) and reacts with a move lower signalling sellers are still in control.
All above combined was enough for me to enter the 2nd sell entry (Blue) with confidence.
EURJPY 15 Minute Chart January 28 2025 (2nd Entry Blue)
EURJPY 15 Minute Chart January 29 2025 (All targets hit and all trades closed)
Entered the 1st Green SELL trade January 24 2025 at 163.58 with a 50 pip stop loss at 164.08. On January 27 2025 EURJPY moved lower and green 1:3RR target hit at 162.08 where I closed 1/2 of the 1st green sell trade for +150 pips and a +1.5% gain. Entered the 2nd Blue SELL trade January 28 2025 at 162.35 with a 35 pip stop loss at 162.70. On January 29 2025 EURJPY continued lower and green 1:5RR target hit at 161.08 where I closed the remaining 1/2 sell position for a +2.5% gain. The 2nd blue entry 1:4RR target also hit at 160.95 where I closed that entry for +140 pips +4% gain for a combined +8% gain on both entries (Risking 1% on every trade).
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. If you followed me on social media you too could have caught the EURJPY move lower.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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