GBPJPY- Bullish Possible Brakeout
Trendline: A downward-sloping trendline was drawn, showing a previously bearish trend.
BOS (Break of Structure): A "Break of Structure" is indicated, marking a point where the market shifted from a downtrend to an uptrend.
Entry on Breakout and Retest: The chart suggests entering a buy position after the price breaks above a key resistance level (the horizontal white line) and then retests that level as support.
Stop Loss: The stop loss is set below the recent low, around the 185.800 level.
Take Profit: The take profit is placed significantly higher, just below the 188.200 level, indicating a bullish outlook.
Risk-to-Reward Ratio: The green and red zones represent the potential profit (green) versus the risk (red) in this trade setup.
This analysis suggests a buy strategy following a breakout and retest of the trendline and resistance level, with defined risk management.
If Brakeout and retest not then than this setupo is invalid
BOS (Break of Structure): A "Break of Structure" is indicated, marking a point where the market shifted from a downtrend to an uptrend.
Entry on Breakout and Retest: The chart suggests entering a buy position after the price breaks above a key resistance level (the horizontal white line) and then retests that level as support.
Stop Loss: The stop loss is set below the recent low, around the 185.800 level.
Take Profit: The take profit is placed significantly higher, just below the 188.200 level, indicating a bullish outlook.
Risk-to-Reward Ratio: The green and red zones represent the potential profit (green) versus the risk (red) in this trade setup.
This analysis suggests a buy strategy following a breakout and retest of the trendline and resistance level, with defined risk management.
If Brakeout and retest not then than this setupo is invalid
Trade closed manually
Setup did not meet criteria to enter in trade
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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.