GBP/USD 1-hour timeframe chart. A trading setup is marked on the chart:
• Entry Zone: The price is around 1.26363, which falls within the entry zone.
• Stop Loss (SL): Set at 1.26163.
• Take Profit (TP): Target is set at 1.26771.
• Price Movement: The price initially moves up, then retraces and is now near the entry zone.
• Support & Resistance: The red line below represents a support level, while the green line above represents a resistance level (target).
This setup highlights a buying opportunity where the trader expects the price to bounce from the entry zone and reach the take-profit target.
• Entry Zone: The price is around 1.26363, which falls within the entry zone.
• Stop Loss (SL): Set at 1.26163.
• Take Profit (TP): Target is set at 1.26771.
• Price Movement: The price initially moves up, then retraces and is now near the entry zone.
• Support & Resistance: The red line below represents a support level, while the green line above represents a resistance level (target).
This setup highlights a buying opportunity where the trader expects the price to bounce from the entry zone and reach the take-profit target.
Trade closed: target reached
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.