GBP/JPY (1H) Analysis & Trading Opportunity
Market Structure:
Break of Structure (BOS): Indicates prior bearish momentum.
Change of Character (ChoCH): Signals a potential trend reversal to bullish.
Demand Zone (Highlighted in Blue at ~187.500): Price reacted strongly, causing an impulsive move up.
Supply Zone (Highlighted in Red at ~191.500): A previous resistance level where price might slow down or reverse.
Current Price Action:
Strong bullish momentum from the demand zone (~187.500).
Price is approaching the supply zone (~191.500), which could act as resistance.
If price rejects the supply zone, a short opportunity may arise.
If price breaks above the supply zone with strong momentum, a pullback and retest could offer a buy entry.
Trade Setup Idea:
📌 Sell Setup (If Rejection at 191.500)
Entry: Near 191.500 resistance
Stop-Loss: Above 192.000
Take-Profit: 189.500 (previous minor support)
📌 Buy Setup (If Break & Retest Above 191.500)
Entry: After a pullback and confirmation above 191.500
Stop-Loss: Below 190.800
Take-Profit: 193.500
Break of Structure (BOS): Indicates prior bearish momentum.
Change of Character (ChoCH): Signals a potential trend reversal to bullish.
Demand Zone (Highlighted in Blue at ~187.500): Price reacted strongly, causing an impulsive move up.
Supply Zone (Highlighted in Red at ~191.500): A previous resistance level where price might slow down or reverse.
Current Price Action:
Strong bullish momentum from the demand zone (~187.500).
Price is approaching the supply zone (~191.500), which could act as resistance.
If price rejects the supply zone, a short opportunity may arise.
If price breaks above the supply zone with strong momentum, a pullback and retest could offer a buy entry.
Trade Setup Idea:
📌 Sell Setup (If Rejection at 191.500)
Entry: Near 191.500 resistance
Stop-Loss: Above 192.000
Take-Profit: 189.500 (previous minor support)
📌 Buy Setup (If Break & Retest Above 191.500)
Entry: After a pullback and confirmation above 191.500
Stop-Loss: Below 190.800
Take-Profit: 193.500
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.