Potential Trade Setup:
The chart includes a potential trade setup with an entry at 1.29140, a stop-loss at 1.28900, and a take-profit at 1.29945.
This setup suggests a potential long (buy) position, anticipating a price rise.
There are labels of FVG, and IVG on the chart. These refer to Fair Value Gaps and Inverted Value Gaps. These are used in Smart Money Concepts to identify areas where price is likely to react.
The setup has a risk/reward that looks to be greater than 1:2 which is a good ratio.
Price Levels:
The chart highlights several key price levels: 1.29140, 1.29385, 1.29500, 1.29945, and 1.30200.
These levels likely represent areas of support and resistance.
There are also levels at 1.28900 and 1.28600.
The chart includes a potential trade setup with an entry at 1.29140, a stop-loss at 1.28900, and a take-profit at 1.29945.
This setup suggests a potential long (buy) position, anticipating a price rise.
There are labels of FVG, and IVG on the chart. These refer to Fair Value Gaps and Inverted Value Gaps. These are used in Smart Money Concepts to identify areas where price is likely to react.
The setup has a risk/reward that looks to be greater than 1:2 which is a good ratio.
Price Levels:
The chart highlights several key price levels: 1.29140, 1.29385, 1.29500, 1.29945, and 1.30200.
These levels likely represent areas of support and resistance.
There are also levels at 1.28900 and 1.28600.
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.