Intraday: Short EUR/JPY as it approaches Supply Zone
Reason:
1. Prior consolidation before down move, shows strong hidden selling activities - sellers will be likely to defend their positions at this level
2. Prior support turned resistance after price successfully broken through as highlighted
3. EP is near open drive level
Gap as highlighted in the chart was covered, thus we are willing to go ahead with this trade.
EP: 124.31, 20 pips tp/sl
Good luck in your trading journey!
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
1. Prior consolidation before down move, shows strong hidden selling activities - sellers will be likely to defend their positions at this level
2. Prior support turned resistance after price successfully broken through as highlighted
3. EP is near open drive level
Gap as highlighted in the chart was covered, thus we are willing to go ahead with this trade.
EP: 124.31, 20 pips tp/sl
Good luck in your trading journey!
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Kommentera:
TP hit!