GBPJPY SELL LIMIT SETUP. (SUPPLY-DEMAND: PRICE ACTION STRATEGY)
Currencies: GBP/JPY
Action: Sell Limit Setup
Entry: 193.620
Stop Loss: 195.500
Top Profit: 186.980
Trade Reason:
-Analysis is done through multiple time frame.
-Monthly TF, price is doing an uptrend, trend is strong.(Up)
-Weekly TF, price fails to make higher high, get into ranging.(Ranging-Down)
-Daily TF, uptrend has broken, expect an upside return to the uptrend line+supply zone and drop heavily. TP is set at he closest potential demand zone.
Action: Sell Limit Setup
Entry: 193.620
Stop Loss: 195.500
Top Profit: 186.980
Trade Reason:
-Analysis is done through multiple time frame.
-Monthly TF, price is doing an uptrend, trend is strong.(Up)
-Weekly TF, price fails to make higher high, get into ranging.(Ranging-Down)
-Daily TF, uptrend has broken, expect an upside return to the uptrend line+supply zone and drop heavily. TP is set at he closest potential demand zone.
Related publications
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.
Related publications
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.