"GBP/JPY Bearish Symphony: Strategic Sell Limit at Key Resistanc
Trade Signal Outlook:
Trading Pair: GBP/JPY
Trade Type: Short (Sell Limit)
Trade Signal Details:
Entry Price: 187.220
Stop Loss: 187.562
Take Profit 1: 186.844
Take Profit 2: 186.661
Trade Analysis:
The trade involves shorting GBP/JPY with a Sell Limit order at the entry price of 187.220.
The stop-loss is set at 187.562 to limit potential losses.
Two take-profit levels are defined: the first at 186.844 and the second at 186.661.
Technical Analysis:
The entry is positioned at a Support-Flip Resistance Zone, indicating a potential reversal point.
Price action is showing signs of a bearish trend with lower lows (LLs) and lower highs (LHs) on the 4-hour timeframe.
Price rejection from the 0.382 Fibonacci level adds confirmation to the potential downside.
The rejection from the EMA 21 level zone provides additional bearish indication.
Risk Management:
Adjust position sizes according to your risk tolerance and overall portfolio strategy.
Consider the risk-reward ratio when determining your position size.
Monitoring and Adjustments:
Monitor the trade closely, especially as it approaches the defined take-profit and stop-loss levels.
Be prepared to make adjustments based on evolving market conditions.
Important Note:
Trading involves risks, and it's crucial to conduct your own analysis and consider your risk tolerance before entering any trade. Adjust the spread and other parameters according to the specifics of your trading platform and server values.
Trading Pair: GBP/JPY
Trade Type: Short (Sell Limit)
Trade Signal Details:
Entry Price: 187.220
Stop Loss: 187.562
Take Profit 1: 186.844
Take Profit 2: 186.661
Trade Analysis:
The trade involves shorting GBP/JPY with a Sell Limit order at the entry price of 187.220.
The stop-loss is set at 187.562 to limit potential losses.
Two take-profit levels are defined: the first at 186.844 and the second at 186.661.
Technical Analysis:
The entry is positioned at a Support-Flip Resistance Zone, indicating a potential reversal point.
Price action is showing signs of a bearish trend with lower lows (LLs) and lower highs (LHs) on the 4-hour timeframe.
Price rejection from the 0.382 Fibonacci level adds confirmation to the potential downside.
The rejection from the EMA 21 level zone provides additional bearish indication.
Risk Management:
Adjust position sizes according to your risk tolerance and overall portfolio strategy.
Consider the risk-reward ratio when determining your position size.
Monitoring and Adjustments:
Monitor the trade closely, especially as it approaches the defined take-profit and stop-loss levels.
Be prepared to make adjustments based on evolving market conditions.
Important Note:
Trading involves risks, and it's crucial to conduct your own analysis and consider your risk tolerance before entering any trade. Adjust the spread and other parameters according to the specifics of your trading platform and server values.
"London-Based Trader | Certified Technical Analyst | Intraday & Scalping Specialist 📈📊 #Forex #Commodities #Indices #Crypto"
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