GBPJPY TRADE IDEA FOR MONDAY
📉 GBP/JPY - Bearish Setup Analysis
🔹 Pair: GBP/JPY (1H Timeframe)
🔹 Bias: Bearish 📉
🔹 Key Levels:
Resistance: 193.027 (Major Supply Zone)
Entry Zone: 191.891 (Marked Red - Potential Sell Zone)
Support Target: 189.183 (Demand Zone)
🔍 Analysis:
The market is currently consolidating within a supply zone, showing signs of distribution. A rejection from the 191.891 level indicates potential bearish momentum. If price breaks below the local support at 191.280, we could see a drop towards the demand zone at 189.183.
✅ Trade Plan:
Sell Setup: Waiting for confirmation near 191.891
Stop Loss: Above supply zone (around 192.000)
Take Profit: 189.183 (Demand Zone)
📌 Confluence Factors:
✔ Price reacting to supply zone
✔ Break of structure expected for downside move
✔ Risk-to-reward favoring short positions
Let me know your thoughts in the comments! 🔥📊
🔹 Pair: GBP/JPY (1H Timeframe)
🔹 Bias: Bearish 📉
🔹 Key Levels:
Resistance: 193.027 (Major Supply Zone)
Entry Zone: 191.891 (Marked Red - Potential Sell Zone)
Support Target: 189.183 (Demand Zone)
🔍 Analysis:
The market is currently consolidating within a supply zone, showing signs of distribution. A rejection from the 191.891 level indicates potential bearish momentum. If price breaks below the local support at 191.280, we could see a drop towards the demand zone at 189.183.
✅ Trade Plan:
Sell Setup: Waiting for confirmation near 191.891
Stop Loss: Above supply zone (around 192.000)
Take Profit: 189.183 (Demand Zone)
📌 Confluence Factors:
✔ Price reacting to supply zone
✔ Break of structure expected for downside move
✔ Risk-to-reward favoring short positions
Let me know your thoughts in the comments! 🔥📊
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.