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EUR/JPY Buy Setup with Pullback to Support (1 Viewer)

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 EUR/JPY Buy Setup with Pullback to Support (1 Viewer)

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skynoxon

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Timeframe:
Primary: M15
Confirmation: M1
Higher Bias: H1

Trade Direction: Buy

Entry Zone: 161.50 – 161.80
Optimal Entry: 161.65

Stop Loss: 161.05
SL Distance: 60 pips

Take Profit Levels:
TP1: 162.25 → 60 pips
TP2: 163.10 → 145 pips
TP3: 164.00 → 235 pips

Risk to Reward:
TP1: 1:1
TP2: 1:2.4
TP3: 1:3.9

Market Session:
London–New York overlap

Buy Confirmation (M1 / M15):
Bullish engulfing on M15 at support
Higher low forming
Break above intraday minor resistance

Trade Management:
Partial profit at TP1
Move Stop Loss to breakeven after TP1
Trail Stop Loss below higher lows

Invalidation:
M15 close below 161.30 cancels the setup

Trade Type:
Intraday on M15
Short swing if H1 trend remains bullish
 
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