FOLLOW UP STRUCTURE | EURJPY (4H)

Tendency: Uptrend ( Bullish )
Structure: Harmonic | Gartley
Observation: i. Using Fibonacci ratios, the retracement between point X and point B is approximate of 61.8%.
ii. At point C, expecting the price to reverse to point D (Demand zone).
iii. Price action at point D confirms the completion of the Gartley.
iv. Price action above Moving Averages.
Trading plan: BUY now or after completion of retracement with TP1 and TP2 @ 145 pips and SL @ 119.400/119.200 zone.
Risk/Reward: 1/4.5
Potential Duration: 4 to 10 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.

Watch this space for follow up structures on lower time frame as price action is been monitored.


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