EUR/JPY Bullish Alternative Gartley Pattern
This pair looks to continue a bullish bias, however, only after
closing above the range at 132.436. Keep an eye on EUR/USD and
USD/JPY since these pairs influence EUR/JPY; if EUR/USD goes up
so does EUR/JPY whilst USD/JPY would tend to go down.
I have also depicted a measured objective target by
doubling the range in which price is currently trapped.
Trade 1 (RvR ratio 2:1)
Entry: Close above 132.620
S/L: 131.182
T/P 1: 133.429 or 133.713 (1.414 Fib extension)
T/P 2: 134.391
T/P 3: 135.527
Trade 2 (RvR ratio 2:1)
Entry: Close above 135.761
S/L: 134.889
T/P: 137.506
For both trades remember to adjust your stop/loss when in
profit.
Happy trading
This pair looks to continue a bullish bias, however, only after
closing above the range at 132.436. Keep an eye on EUR/USD and
USD/JPY since these pairs influence EUR/JPY; if EUR/USD goes up
so does EUR/JPY whilst USD/JPY would tend to go down.
I have also depicted a measured objective target by
doubling the range in which price is currently trapped.
Trade 1 (RvR ratio 2:1)
Entry: Close above 132.620
S/L: 131.182
T/P 1: 133.429 or 133.713 (1.414 Fib extension)
T/P 2: 134.391
T/P 3: 135.527
Trade 2 (RvR ratio 2:1)
Entry: Close above 135.761
S/L: 134.889
T/P: 137.506
For both trades remember to adjust your stop/loss when in
profit.
Happy trading