Pound Inggris / Yen JepangPembelian
GBPJPY Bullish Continuation: Key Support Breakout and Retest
Hey Traders,
As things stand onGBPJPY Price has just broken through a major resistance level, which has now flipped to support, and has performed a retest with the previous candlestick. This setup suggests a continuation of the upward movement, aiming to complete a deeper correction after a prolonged bearish phase.
Current Market Conditions:
Key Support: The price has broken above a significant resistance level, now turning it into support.
Bullish Setup: The retest of the previous candlestick supports the expectation of further upside.
Targets:
TP1: 189.475
TP2: 191.420
TP3: 193.290
Risk Management:
Stop-Loss: Set stop-loss below the new support level at 186.065 to manage risk in case of a reversal.
Conclusion:
With the successful breakout and retest of the support level, the price is positioned for a potential bullish continuation. Monitor the price action for upward movement and manage trades according to the outlined targets and stop-loss.
I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
Trading Insight: "Success in trading is not just about predicting the market, but also about managing your risks effectively."
As things stand on
GBPJPY Price has just broken through a major resistance level, which has now flipped to support, and has performed a retest with the previous candlestick. This setup suggests a continuation of the upward movement, aiming to complete a deeper correction after a prolonged bearish phase.Current Market Conditions:
Key Support: The price has broken above a significant resistance level, now turning it into support.
Bullish Setup: The retest of the previous candlestick supports the expectation of further upside.
Targets:
TP1: 189.475
TP2: 191.420
TP3: 193.290
Risk Management:
Stop-Loss: Set stop-loss below the new support level at 186.065 to manage risk in case of a reversal.
Conclusion:
With the successful breakout and retest of the support level, the price is positioned for a potential bullish continuation. Monitor the price action for upward movement and manage trades according to the outlined targets and stop-loss.
I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
Trading Insight: "Success in trading is not just about predicting the market, but also about managing your risks effectively."
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.