GBP/JPY (1Hour): Break and Re-test setup✅
Hey traders, please take a look at this potential setup which might unfold within the next day or two on GBPJPY.
Estimations:
Reward: 300 pips 🤑
Risk: 29 pips ❌
Risk/Reward Ratio: 10.11 ✔
Chart Breakdown:📈
DR.Swing_Forex
Estimations:
Reward: 300 pips 🤑
Risk: 29 pips ❌
Risk/Reward Ratio: 10.11 ✔
Chart Breakdown:📈
- Daily Timeframe:
Uptrend in place.
3rd touch sell setup on downward trendline contradicting the uptrend. - 4Hour Timeframe:
Uptrend in place.
4th touch of uptrend trendline buy setup further confirming the uptrend. - 1Hour Timeframe:
There's a uptrend in place, although price formed a LL and LH, price failed to breach the previous HL of the uptrend.
There's a downward trendline on this timeframe and I'm expecting price to break and re-test this trendline to give us a buy setup.
DR.Swing_Forex
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