GBP\JPY: Spotting Uptrend Reversals for Profit Potential..
Updated
1. Price in Overall Uptrend Direction: This means that the general movement of the price of whatever asset or security is being discussed is moving upwards over a period of time. In other words, the value of the asset is increasing over the long term.
2. Uptrend Structure Being Maintained: This indicates that the pattern of higher highs and higher lows, which characterizes an uptrend, is still intact. In simpler terms, each peak and trough in the price chart is higher than the previous one.
3. Wait for Bottom Wick Rejection at 191.372 Region: This suggests that the person is waiting for the price to drop to around 191.372 units (or whatever measurement is applicable) and then observe if there is a rejection indicated by a long lower shadow or "wick" in candlestick charting. A rejection at this level implies that buyers are stepping in to prevent further decline, potentially signaling a reversal in the short term.
4. Push Up Potentially to 193.369 Region: If the rejection at 191.372 occurs as anticipated, the price might be expected to move upward, possibly reaching around 193.369 units. This is the next potential target for upward movement based on the analysis.
In summary, the statement is advising to wait for a specific price level where a rejection is expected, and if that occurs, it could signal a potential short-term upward movement towards a specified target in the context of an overall uptrend.
If you want to more informative ideas like this so lets share comments and follow.
2. Uptrend Structure Being Maintained: This indicates that the pattern of higher highs and higher lows, which characterizes an uptrend, is still intact. In simpler terms, each peak and trough in the price chart is higher than the previous one.
3. Wait for Bottom Wick Rejection at 191.372 Region: This suggests that the person is waiting for the price to drop to around 191.372 units (or whatever measurement is applicable) and then observe if there is a rejection indicated by a long lower shadow or "wick" in candlestick charting. A rejection at this level implies that buyers are stepping in to prevent further decline, potentially signaling a reversal in the short term.
4. Push Up Potentially to 193.369 Region: If the rejection at 191.372 occurs as anticipated, the price might be expected to move upward, possibly reaching around 193.369 units. This is the next potential target for upward movement based on the analysis.
In summary, the statement is advising to wait for a specific price level where a rejection is expected, and if that occurs, it could signal a potential short-term upward movement towards a specified target in the context of an overall uptrend.
If you want to more informative ideas like this so lets share comments and follow.
Trade active
market going to target wait for confirmation for next buying setup, new wig start if close in buy an upper level our target will hit very soon..
please like comment and follow bundle of thanks for your support..
Trade closed: target reached
target reached successfully congretulations to my tradingview family our another analyse completed with high target..love you all please like comment and support..
JOIN MY TELEGRAM CHANNEL
t.me/+f1Us-87EPS43Mzg0
🟢 Join Free Telegram Channel
t.me/+KsrkFFjw_K41MDk0
t.me/+f1Us-87EPS43Mzg0
🟢 Join Free Telegram Channel
t.me/+KsrkFFjw_K41MDk0
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.