New fib retracement shows a better picture. Set up Pivot also with time frame D1. At 7.00pm candle was nearing 0.236 line, RSI nearing oversold level, Sochastic below 20, MACD below 0, candle was nearing support line S1 too, seems like a very high chance to bounce up. Decided to wait for the next candle, and went into trade. Enter trade at 124.552, SL @124.00, TP @125.00. Took quite long time (for me) to hit my TP, nearly 21hrs of open trade. Win 44.8 pips.
Looking back, i shouldn't have enter into trade right after the red candle at 7.00pm. If the candle broke the resistance line at fib retracement 0.236, i'm doomed.. But all indicators show high possibility that it wont. However, there's still chances that it will go way below before bouncing up, so i think a safer way would b waiting for the 2nd candle, which is the candle at 8.00pm. If my SL is far enough, i think it's safe to enter trade at the 1st candle.
(On Side Note: JPY has been weakening until this point of time, so general trend should be bullish for EUR/JPY. The yen weakening is currently affected by Japan government vows to weaken its currency to promote growth in its economy)
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