EURJPY be patient and wait for larger correction to sell

Hi traders:

MY last forecast on EURJPY worked out perfectly. Price dropped down from the top of the structure, and broke out with strong bearish momentum.

The move had already happened, so naturally I would expect the price to form a deeper correction before the next sell move.

I would like to see price move up to the top of its current structure correctively, and I can scale into more sell entries.

What is also possible is price can simply drop from this point onward, and just form smaller correction down. In this case I wont look for additional entries, but keep my original position.

To me its always about risk management, entries and exit in my trading plan. I want to enter at the best potential opportunities and have lots of room for my risk:reward.

Thank you

Yorum:

Yorum:

Price formed a channel correctively going up, and can wait for more confirmation within this structure.
Price can either form a mini correction and drop, or go down correctively, and go up once more before the drop to complete the structure.

Yorum: