This is a 1-hour chart of GBP/JPY (British Pound/Japanese Yen) from TradingView, showing a potential sell (short) setup. Here's what it means:
1. Sell Zone Identified – The shaded blue area is marked as a "Sell Zone," indicating a strong resistance level where sellers may take control.
2. Rejection from Resistance – The price reached this zone previously (highlighted in the orange circle) and was strongly rejected, leading to a drop. This suggests a potential repeat of the price action.
3. Bearish Breakdown Expected – The blue arrows indicate an expectation that the price will decline after testing the sell zone.
4. Target Price (Support Level) – The black horizontal line at 188.596 is a potential target for the short trade.
This suggests the trader is looking for a bearish move from this resistance area. Are you planning to share this setup with your audience?
1. Sell Zone Identified – The shaded blue area is marked as a "Sell Zone," indicating a strong resistance level where sellers may take control.
2. Rejection from Resistance – The price reached this zone previously (highlighted in the orange circle) and was strongly rejected, leading to a drop. This suggests a potential repeat of the price action.
3. Bearish Breakdown Expected – The blue arrows indicate an expectation that the price will decline after testing the sell zone.
4. Target Price (Support Level) – The black horizontal line at 188.596 is a potential target for the short trade.
This suggests the trader is looking for a bearish move from this resistance area. Are you planning to share this setup with your audience?
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.