Paun British / Yen JepunPanjang
GBP/JPY Long Position - Trendline play
Timeframe: 1-Hour Chart
Entry Price: 192.244
Direction: Long (Buy)
Trend Reversal Setup:
A new ascending trendline (green) indicates bullish momentum forming.
HTF Channel Rejection:
The price rejected the lower boundary of a higher timeframe (HTF) descending red channel, indicating strong demand and a potential reversal from this key support zone.
Channel Breakout:
The price broke out of the descending parallel channel (red and green lines), confirming bullish intent.
Stop Loss (SL): 191.740 (below the previous swing low and within the breakout zone).
Take Profit (TP): 193.431 (targeting resistance from previous highs).
Risk-Reward Ratio: Approximately 2:1.
Rationale for the Trade:
This trade capitalizes on a breakout from a descending channel coupled with a shift in momentum, indicated by the ascending trendline. If the price holds above the breakout point, it is likely to continue upward toward the resistance zone.
Entry Price: 192.244
Direction: Long (Buy)
Trend Reversal Setup:
A new ascending trendline (green) indicates bullish momentum forming.
HTF Channel Rejection:
The price rejected the lower boundary of a higher timeframe (HTF) descending red channel, indicating strong demand and a potential reversal from this key support zone.
Channel Breakout:
The price broke out of the descending parallel channel (red and green lines), confirming bullish intent.
Stop Loss (SL): 191.740 (below the previous swing low and within the breakout zone).
Take Profit (TP): 193.431 (targeting resistance from previous highs).
Risk-Reward Ratio: Approximately 2:1.
Rationale for the Trade:
This trade capitalizes on a breakout from a descending channel coupled with a shift in momentum, indicated by the ascending trendline. If the price holds above the breakout point, it is likely to continue upward toward the resistance zone.
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.