GBPJPY Cup and Handle Pattern
Updated
Hello traders! 🌟 I hope you're having a fantastic weekend. As we gear up for the trading week, I've spotted an exciting opportunity on GBPJPY that I wanted to share with you.
Trading Setup: GBPJPY Cup and Handle Pattern ☕🖐️
The chart reveals a classic Cup and Handle pattern.
Key Breakout Level: Keep an eye on the breakout level at 188.661.
Cup and Handle patterns work best when there's a confirmed breakout above the level mentioned.
Once we see that breakout, consider placing your stops at the mid of the handle to manage risk effectively.
Profit Targets: 🎯
Potential targets are set at 62% (194.987) and 79% (194.987) levels.
Watch out for a surge in volume during the breakout; it confirms active participation.
You might want to secure some profits at the 38% retracement level (192.581).
Stay Updated: 📡👀
Keep an eye out for real-time updates and further price action. Your likes and comments are always appreciated.
TCPLTP
Trading Setup: GBPJPY Cup and Handle Pattern ☕🖐️
The chart reveals a classic Cup and Handle pattern.
Key Breakout Level: Keep an eye on the breakout level at 188.661.
Cup and Handle patterns work best when there's a confirmed breakout above the level mentioned.
Once we see that breakout, consider placing your stops at the mid of the handle to manage risk effectively.
Profit Targets: 🎯
Potential targets are set at 62% (194.987) and 79% (194.987) levels.
Watch out for a surge in volume during the breakout; it confirms active participation.
You might want to secure some profits at the 38% retracement level (192.581).
Stay Updated: 📡👀
Keep an eye out for real-time updates and further price action. Your likes and comments are always appreciated.
TCPLTP
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Note
Note
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