On March 9 2021 I posted on social media @AidanFX “EURJPY LONG at 109.24 Stop Loss at 128.73 Target 129.75 – 130.00 area.”
The chart below was also posted on social media @AidanFX March 9 2021 showing several clear bullish market patterns. The first sign that signalled a trader to watch for BUYING opportunities was when indicators and price formed a bullish divergence (black) near the pink box. Second sign signalling traders was price bounced off the static support/resistance zone (pink box). Bouncing off this static support zone together with the bullish divergence pattern forming a trader can clearly distinguish that the right side to trade is to the upside. Third sign is when a bullish flag breakout pattern (blue) formed followed by price breaking above the top of flag which signalled traders that more bulls will be entering the market. And the fourth sign would be that price respected the dynamic support 200 moving average (green) and formed a second bullish divergence at the dynamic support moving average which was all I needed to be confident on posting the LONG/BUY trade setup for a move higher.
EURJPY 1 Hour Chart March 9 2021
EURJPY eventually moves higher and on March 12 2021 price hits the 1:2 RR target at 130.26 from 129.24 for +102 pips. If you followed me on social media @AidanFX you too could have caught the EURJPY move higher. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100%, is that we are RIGHT more than we are WRONG.
EURJPY 1 Hour Chart March 12 2021
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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