• Vasily Trader

EURJPY: Your Detailed Trading Plan (Trading Plan)

⚠️EURJPY is testing a major weekly structure resistance .

To catch a pullback from that, we need a top-down confirmation.

1️⃣On a daily, the price is trading in a sharp bullish trend .

The market is following a rising parallel channel .

Its resistance matches with the above-mentioned weekly pivot .

2️⃣On intraday time frame the market remains bullish as well.

The confirmation that I look for is a bearish breakout of a rising wedge pattern on 4H.

It will signify a local change in market sentiment, and bearish continuation will follow.

The goal will be a 131.9 level.

❗️If you want to catch a strong swing move,

wait for a bearish breakout of a daily channel. It may trigger a reversal movement.

❗️Also, remember that if the price keeps growing and violates the underlined yellow structure,

the setup will be invalid.