after closing out my short position (waiting for a pullback to re-enter) in EURJPY at 129.02 post the break of the neck-line in the head & shoulder pattern I believe we will see a small pull-back towards the neckline again around the 129.25-129.33 level as shown on the chart (purple lines). i would be more inclined to start selling short starting at 129.25.
that being said, this is a very short term trade that i would close if for any reason i get uncomfortable with it given my overall short view on EURJPY, i would probably start building a short position starting at the above target 1 and add more at target two.
- entry: current levels
- stop-loss: last low.
- target 1: 129.33
- target 2: 130.06
that being said, this is a very short term trade that i would close if for any reason i get uncomfortable with it given my overall short view on EURJPY, i would probably start building a short position starting at the above target 1 and add more at target two.
