Here I'm providing based on the chart we've shared (GBP/USD 2h), here's a breakdown of the sell analysis and target levels:
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🔍 Chart Overview
Pattern Identified: Bearish Wedge (highlighted in green)
Breakout Direction: Bearish (downward breakout from the wedge)
Entry Point: ~1.35673 (as labelled on the chart)
Target 1: ~1.34317 (first red arrow points here)
Target 2 / Final Target: ~1.32796 (major support/“strong zone level”)
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✅ Sell Analysis
Entry Confirmation:
The price breaks below the lower trendline of the wedge (bearish confirmation).
Strong red arrows and zigzag path illustrate expected price decline.
Target Levels:
1. Target 1 (Take-Profit 1):
Price: 1.34317
Reason: Minor support or previous consolidation zone.
Suitable for conservative profit-taking.
2. Target 2 (Final TP / Strong Zone Level):
Price: 1.32796
Reason: Strong demand/support zone.
Marked in green on the chart.
Ideal for full TP if bearish momentum continues.
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🛡️ Risk Management Suggestion
Stop Loss: Above wedge top/resistance, near 1.35904.
Ensure proper R:R ratio (minimum 1:2 or better).
📌 Summary
Entry TP1 TP2 (Final) SL (Suggested)
1.35673 1.34317 1.32796 1.35904
---
🔍 Chart Overview
Pattern Identified: Bearish Wedge (highlighted in green)
Breakout Direction: Bearish (downward breakout from the wedge)
Entry Point: ~1.35673 (as labelled on the chart)
Target 1: ~1.34317 (first red arrow points here)
Target 2 / Final Target: ~1.32796 (major support/“strong zone level”)
---
✅ Sell Analysis
Entry Confirmation:
The price breaks below the lower trendline of the wedge (bearish confirmation).
Strong red arrows and zigzag path illustrate expected price decline.
Target Levels:
1. Target 1 (Take-Profit 1):
Price: 1.34317
Reason: Minor support or previous consolidation zone.
Suitable for conservative profit-taking.
2. Target 2 (Final TP / Strong Zone Level):
Price: 1.32796
Reason: Strong demand/support zone.
Marked in green on the chart.
Ideal for full TP if bearish momentum continues.
---
🛡️ Risk Management Suggestion
Stop Loss: Above wedge top/resistance, near 1.35904.
Ensure proper R:R ratio (minimum 1:2 or better).
📌 Summary
Entry TP1 TP2 (Final) SL (Suggested)
1.35673 1.34317 1.32796 1.35904
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JOIN MY TELEGRAM:
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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.