GBPJPY (1 Hour): Can we still catch the sells???
Hello traders, please take a sneak peak at this idea on GBPJPY, enjoy!!!
Reward: 293 pips🤑
Risk: 30 pips❌
Risk/Reward ratio: 9.64✅
Chart Breakdown:📈📉
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DR.Swing_Forex
Reward: 293 pips🤑
Risk: 30 pips❌
Risk/Reward ratio: 9.64✅
Chart Breakdown:📈📉
- Daily: Market was in a strong downtrend but is currently consolidating. Price recently formed a sell setup on a downward trendline + resistance on the daily trendline, which gives us an overall bearish setup on the daily.
- 4 Hour: There is a break and re-test of a upward trendline + newly formed resistance, which means that the 4 Hour chart is also bearish.
- 1 Hour: There is a downtrend in place and I'm anticipating price to give me a sell opportunity should it go up to the 1 hour downward trendline + resistance and also form a bearish reversal candlestick to confirm entry.
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Please like and comment if you agree with the idea!!!👍
DR.Swing_Forex
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