Price compressed toward supply
In the H1 chart of the GBP/JPY, we observe that the price has moved upward in a compressed manner, indicating buyer weakness. Above the current level, there is a significant supply zone, which appears to be an ideal point for initiating a sell position upon the first contact with the price. The longer it takes for the price to reach this supply zone, the better the opportunity may become.
City Traders Imperium | Funding For Traders
- Est. Since 2018.
- Up to 100% Profit Share.
- Balance Based Drawdown.
- 1-Step & 2-Step Funded Accounts.
citytradersimperium.com/
- Est. Since 2018.
- Up to 100% Profit Share.
- Balance Based Drawdown.
- 1-Step & 2-Step Funded Accounts.
citytradersimperium.com/
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.