I have been monitoring the formation of a rising wedge on the EURJPY pair. Formation performance has been estimated at around 260pips and I will be entering a short pending order as soon as I receive confirmation for the break-out.
I can also see the confirmation of a double top formation (or a 2618 play) in the making should the price move further South which strengthen our confidence on the idea.
It is a long move so I am not expecting to get there at one go. A retrace is also expected to test the broken support, so place your order according to your trading style since scalping opportunities may occur.
let's wait it out.
All feedback and comments are highly appreciated.
I can also see the confirmation of a double top formation (or a 2618 play) in the making should the price move further South which strengthen our confidence on the idea.
It is a long move so I am not expecting to get there at one go. A retrace is also expected to test the broken support, so place your order according to your trading style since scalping opportunities may occur.
let's wait it out.
All feedback and comments are highly appreciated.
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