EURJPY - Multi Time Frame Analysis - Long
Updated
1. Grey box represents a bullish bat pattern buy zone (I don't trade harmonics anymore just added it as confluence)
2. Price has spiked down on the 15 minute of a central TMA band & Lazy TMA Band & ADR % based price channel (MT4 indicator setup I use to trade)
3. In conjunction with above the central Daily Pivot Point is stepping up and price has pulled beneath it.
4. Williams %R is above -50 on the daily confirming the uptrend & is below -80 on the 1HR signalling a sufficient pullback.
5. Price has made a bullish move on the 5 minute signalling a long on candle close & is filtered by Williams %R being above -80 on the 15 minute.
Everything both indicator and price based in terms of trend reading is telling me to buy into a continued bullish move.
2. Price has spiked down on the 15 minute of a central TMA band & Lazy TMA Band & ADR % based price channel (MT4 indicator setup I use to trade)
3. In conjunction with above the central Daily Pivot Point is stepping up and price has pulled beneath it.
4. Williams %R is above -50 on the daily confirming the uptrend & is below -80 on the 1HR signalling a sufficient pullback.
5. Price has made a bullish move on the 5 minute signalling a long on candle close & is filtered by Williams %R being above -80 on the 15 minute.
Everything both indicator and price based in terms of trend reading is telling me to buy into a continued bullish move.
Trade closed manually
EU dropping cursed the trade. Positive to negative in an instant.
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