Range on GBPJPY
The chart shows AB being the range confirmed by CDEF (inside pivots of swing AB)
We have 2 scenarios at each boundary
Scenario 1 : Acceptance at boundaries - Orange arrows
Break and Acceptance at boundary 'A' will give a Short setup
Break and Acceptance at boundary 'B' will give a Long setup
Scenario 2 : Unacceptance at boundaries - Green arrows
Break and Unacceptance at boundary 'A' will give a Long setup
Break and Unacceptance at boundary 'B' will give a Short setup
Note: The decision to enter a Long or Short based on Acceptance or Unacceptance will be done only after the price action observation post break of boundaries 'A' and 'B'.
We have 2 scenarios at each boundary
Scenario 1 : Acceptance at boundaries - Orange arrows
Break and Acceptance at boundary 'A' will give a Short setup
Break and Acceptance at boundary 'B' will give a Long setup
Scenario 2 : Unacceptance at boundaries - Green arrows
Break and Unacceptance at boundary 'A' will give a Long setup
Break and Unacceptance at boundary 'B' will give a Short setup
Note: The decision to enter a Long or Short based on Acceptance or Unacceptance will be done only after the price action observation post break of boundaries 'A' and 'B'.
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.