EURJPY +7 2016-06-30 | Orange 2 White (Using Euro)
This is an Orange 2 White trade on EURJPY cross using Euro,the cross’s parental pair as the guide and determiner for entry. Here EURJPY is over extended on it move up, so much so that the band shades are deep orange and the 1 min boxes are not yet showing. Euro, hoever has reached resistance at the bottom edge of its 60 min white zone. If you don’t understand the relationship between Euro and EURJPY then review our video on cross pairs which you can find here.
You can find more details about using forex price action to scalp using the Fib Matrix TimeLanes trading software, here
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