The market has stabilized, the first signs of an uptrend appeared

January 10, 2020 8:32:52 AM by Patrick Yang
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (120.9)
Start
End
Jan. 10, 2020
Jan. 17, 2020

+160 p
122.50
Target 1
120.90
Entry
-140 p
119.50
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy EURJPY.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. These accumulation of retail traders stop losses coincide with the level of the previous high. This level will serve as the target for our trade.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.