EURJPY Forms Inside Bar After Impulsive Move | Mar 31
NOTE: We’ll be doing our next private member webinar this Friday at 9am EST where we’ll be discussing some of the live trade setups I’m in along with some of the other strategies and methods from this course. (Will announce registration details early this week).
EURJPY – Forms Inside Bar After Impulsive Move (4hr chart)
For the last few days, the EURJPY has been in a corrective pullback phase which we’ve been talking about wanting to sell. Today the pair sold off with the EURUSD, dropping 160 pips from the high to lows today, forming another impulsive leg down, ending with an inside bar towards the lows.
I’ve been short since last week as you can see from the chart below, and I just closed out my position today for about a +200 pip move. I’ll be discussing this trade in detail in the private member webinar this Friday.
For now, we remain bearish while below 129.15 on an intra-day basis, and below 130.45 on a daily closing basis. If the bearish pressure continues, then we should see an attack on 127.
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