📈 Trade Idea: Long GBP/JPY
Analysis:
Price has rejected a key demand zone, showing a strong reaction off support. The long wick and bullish rejection indicate buyers stepping in. This aligns with a potential reversal trade, aiming for a retest of the previous supply zone.
Trade Plan (Based on Chart Setup):
🔹 Entry: 189.744 (Rejection from support)
🔹 Stop Loss: 189.422 (Below candle's body)
🔹 Take Profit: 190.388 (Fixed at 2R)
Risk/Reward:
✅ Stop Loss: 32pips
✅ Take Profit: 64 pips
✅ Risk-Reward Ratio: 1:2
Why this trade?
✔️ Strong bullish rejection from demand zone
✔️ Liquidity grab below lows before push-up
✔️ Targeting previous resistance/supply zone
📌 Looking for follow-through momentum toward the upside.
Analysis:
Price has rejected a key demand zone, showing a strong reaction off support. The long wick and bullish rejection indicate buyers stepping in. This aligns with a potential reversal trade, aiming for a retest of the previous supply zone.
Trade Plan (Based on Chart Setup):
🔹 Entry: 189.744 (Rejection from support)
🔹 Stop Loss: 189.422 (Below candle's body)
🔹 Take Profit: 190.388 (Fixed at 2R)
Risk/Reward:
✅ Stop Loss: 32pips
✅ Take Profit: 64 pips
✅ Risk-Reward Ratio: 1:2
Why this trade?
✔️ Strong bullish rejection from demand zone
✔️ Liquidity grab below lows before push-up
✔️ Targeting previous resistance/supply zone
📌 Looking for follow-through momentum toward the upside.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.