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Video / 17 February 2017 at 8:19 GMT

EURJPY coiling for a move: Lambert

Clive Lambert - FuturesTechs
Clive Lambert of FuturesTechs explains why he is trading the EURJPY.

According to Lambert EURJPY has found resistance at 121.30 all week, and the last couple of candles have been tight range Doji. 

We are “coiling” for a move with the 4 hour chart forming something like an “Ascending Triangle”, and if we see a clean break of 120.70 that should trigger a move lower, he says.
Lambert looks to sell a break of 120.70, running a 50 tick trailing stop, targeting 120.25 and 119.35.
If we are not below 120.25 by the end of the day he’d cover the trade and have another look next week.

Lambert explains the background to a selected trade every Friday on Trading Floor.

17 February
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
17 February
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
Sorry for "shouty" capital letters. Just didn't want you to miss out!!
17 February
Raneta Leonid Raneta Leonid
Yep, let's go. Any thoughts on eurgbp?
17 February
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
8520 is support in EURGBP. It's been a bit messy this week although the low/bounce on monday and Tuesday was bang on the 200 SMA so that's something for the bulls.
17 February
vyacheslav111 vyacheslav111
Your opinion on USD/CHF now ?
17 February
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
First target hit. Stop should now be at 120.75 on the balance.
17 February
Raneta Leonid Raneta Leonid
Tnx, Clive nice one, booked the profit, have a nice weekend.
20 February
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
Friday's large red candle has Marabuzo resistance at 1.2032, a level that has capped upside today. It could be a quiet day of course, being a US Holiday (it's certainly been fairly muted around the traps in European morning trade). I am happy to run the balance of this short trade if you're still in, moving the stop to 1.2052 now...
20 February
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
The 30 min chart suggests the recovery overnight is just a "Flag" and we could see fresh selling if/when 120.08 breaks....
20 February
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
Obviously not a day to be expecting any significant moves, then!
22 February
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
The second target on this trade has now been hit.
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