EURJPY Inverted Head and Shoulders

Following the domination of the EURO as a base currency last week, we can see that the market is not moving back to its normal state of trading, from forming our new low which is the head of the formation, ideally I was looking for shorts as a lot of people would have been…however with the explosive move back to the neckline to form the double top structure, we now have another bias on the cards!

Ideally I am waiting for price to come back within the green zone before looking for longs upon signs of rejection, it is very important that as a trader you are able to adapt and grow with the market, allowing your bias to be flexible as the market DOES NOT have to do what you want it to do, the market shows you signs of what it is going to do and we take advantage of this!

The full trading team are waiting for this set up to come in play before looking for longs back into the 121.00 region firstly and then beyond…make sure to get in contact with the team if you are wanting to learn a new life skill alongside ourselves!


Comment your thoughts on the analysis above!

Leave a Reply

Your email address will not be published. Required fields are marked *

Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Consent to display content from Youtube
Consent to display content from Vimeo
Google Maps
Consent to display content from Google
Consent to display content from Spotify
Sound Cloud
Consent to display content from Sound