[EURJPY] Impulsive Structure in play
- Posted by: Team Research
- Category: ANALYSIS & SETUP
If we look at the EW chart on the H1 time frame, we see that the pair is developing a bullish impulsive structure (12345). If our analysis is correct, wave (4) should end in area 135/134.67 because the support structure is around 13428 (closed bar). The minimum wave target (5) is 136.10.
UPDATES (01/17/2018 04:48:43 AM): The pair has developed a fast rally, and in the short term we expect this movement to continue. From a technical point of view, if you have taken a long position around wave (4), put stop loss at breakeven and let profits run.
UPDATES (01/17/2018 5:52:24 PM): Our setup key resistance is 135.88, as long as the price remains below, the risk of still seeing a bearish leg remains high, on the contrary the pair should easily reach the other two our TARGETS.
UPDATES (01/18/2018 11:09:56 AM): The trend is still bullish on intraday charts, and the pair may not yet have completed the bullish movement. From a technical point of view, on H1 chart, our harmonic structure should work well, and at the moment we maintain our long position.
UPDATES (01/18/2018 12:33:38 PM): TARGET 1 reached (110 pips). If you are not our MEMBER Pro, use TARGET 1 and TARGET 2 shown chart, to close your long positions.
- Money Management:
Asset Risk: (2,00%) – Invalidation Level: 134.28 (H1 close bar) – Move stop loss to breakeven after updates.
- Patterns Strategy:
Bullish Impulsive Structure (12345) on H1 chart – Wave (5) in development (Trend Following Strategy)
- Assets & Risk Management:
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