EUR/JPY. TF H1, 28.01.14

Published 28.01.2014 at 01.30 PM.

On EUR/JPY we have a bearish Wulfe wave on ТF Н1. Currently the price has come out of the sweet zone and goes to 2-4 line. I recommend to enter in short positions from current ones and it's better to transfer short positions to break-even while tested 2-4.

Stop loss levels:

sl_1 - 141.05;

sl_2 - 141.50

Partial price fixation on levels:

tp_1 - 139.80;

tp_2 -139.25.

Full fixation when price is on 6th point.

Disadvantages of this pattern:

- enter against the trend of the oldest time frames;

- unsymmetrical triangle;

- point 1 lies not on the peak of zigzag.

Have a profitable trading! :)

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