EURJPY LONG

EURJPY LONG

Why are we entering?
- Expecting JPY Weakness & EUR Strength
- Price is approaching a structure level & 1.38 fibonacci level
- We are at the end of our ABC correction

What are we waiting for to happen?
- rejection of structure level & fibonacci level
- break of WFB trendline / RISK trendline

Entry
SAFE Entry: Rejection of structure level & fibonacci level with a break of RISK/WFB
Risk Entry 1: Rejection of structure level & fibonacci level
Risk Entry 2: Break of WFB/RISK trendline

Once entered, where will our Stoploss be?
-Below the 1.38 fibonacci (above 135.1) 30 pips
- Move SL to BE after running 30 pips

Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP : - Previous high 144.1 (870pips)
- Final TP -0.618 fibonacci : 148 (1250pips)