SMC trading point update
Tchnical analysis for GBP/JPY (British Pound / Japanese Yen) on the 4-hour timeframe. Here’s a breakdown of the trading idea and structure:
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Key Technical Elements:
1. Support Zones:
Orderblock Zone (small yellow box near 192.15): Price is currently hovering around this area, which acts as a demand zone.
Main Support Level (larger yellow zone around 190.00): A deeper pullback may test this level if the orderblock fails.
2. EMA 200 (192.167):
Price is fluctuating around the 200 EMA, showing indecision.
A strong bounce above this moving average could indicate bullish momentum resuming.
3. RSI Indicator:
RSI is neutral (~47.80), leaving room for upside movement without being overbought.
4. Projected Price Path:
Two potential bullish scenarios:
A bounce from the orderblock leads straight to a rally.
A deeper dip into the support level forms a double bottom or liquidity grab, followed by a strong reversal.
5. Target Point:
The projection shows price rising to 196.368, which is a prior high and significant resistance.
---
Trade Idea Summary:
Bias: Bullish
Entry Zone:
Primary: Around 192.15 (orderblock)
Secondary (deeper entry): Around 190.00 (support level)
Confirmation: Bullish engulfing candle or strong wick rejection near entry + price reclaiming 200 EMA
Target: 196.368
Invalidation: Break and close below 189.80 (support zone violated)
Mr SMC Trading point
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Risk Management & Notes:
Good R:R potential if entering near support with a stop below 189.80.
Watch for confirmation before entry — especially if price dips to the lower support.
Macroeconomic events (UK or Japan central bank decisions) could impact volatility.
Pales support boost 🚀 analysis follow)
Tchnical analysis for GBP/JPY (British Pound / Japanese Yen) on the 4-hour timeframe. Here’s a breakdown of the trading idea and structure:
---
Key Technical Elements:
1. Support Zones:
Orderblock Zone (small yellow box near 192.15): Price is currently hovering around this area, which acts as a demand zone.
Main Support Level (larger yellow zone around 190.00): A deeper pullback may test this level if the orderblock fails.
2. EMA 200 (192.167):
Price is fluctuating around the 200 EMA, showing indecision.
A strong bounce above this moving average could indicate bullish momentum resuming.
3. RSI Indicator:
RSI is neutral (~47.80), leaving room for upside movement without being overbought.
4. Projected Price Path:
Two potential bullish scenarios:
A bounce from the orderblock leads straight to a rally.
A deeper dip into the support level forms a double bottom or liquidity grab, followed by a strong reversal.
5. Target Point:
The projection shows price rising to 196.368, which is a prior high and significant resistance.
---
Trade Idea Summary:
Bias: Bullish
Entry Zone:
Primary: Around 192.15 (orderblock)
Secondary (deeper entry): Around 190.00 (support level)
Confirmation: Bullish engulfing candle or strong wick rejection near entry + price reclaiming 200 EMA
Target: 196.368
Invalidation: Break and close below 189.80 (support zone violated)
Mr SMC Trading point
---
Risk Management & Notes:
Good R:R potential if entering near support with a stop below 189.80.
Watch for confirmation before entry — especially if price dips to the lower support.
Macroeconomic events (UK or Japan central bank decisions) could impact volatility.
Pales support boost 🚀 analysis follow)
Trade closed: target reached
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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.
(Services:✔️ JOIN Telegram channel
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
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.