GBPUSD- 30 Minutes time frame
Entry Zone: The entry point appears to be just above the current price action, within a marked grey zone. This could be a potential demand zone or retracement area following the bullish move.
Stop Loss: Your stop loss is set slightly below the entry zone, around 1.30577, which seems to protect against further downside should the price not respect this level.
Take Profits:
Take Profit 1 is around 1.31021, which represents the first target after a potential upward movement.
Take Profit 2 is higher at 1.31388, which likely represents a significant resistance level or Fibonacci retracement zone.
CHOCH (Change of Character): This indicates that you expect a potential bullish reversal after a downward trend, with price breaking through a resistance zone.
This trade setup suggests you are anticipating a bullish trend after the recent downward move. The strategy seems to be based on a retracement and entry within a demand zone, targeting key resistance levels for profit.
Let me know if you'd like more specific analysis or adjustments!
Stop Loss: Your stop loss is set slightly below the entry zone, around 1.30577, which seems to protect against further downside should the price not respect this level.
Take Profits:
Take Profit 1 is around 1.31021, which represents the first target after a potential upward movement.
Take Profit 2 is higher at 1.31388, which likely represents a significant resistance level or Fibonacci retracement zone.
CHOCH (Change of Character): This indicates that you expect a potential bullish reversal after a downward trend, with price breaking through a resistance zone.
This trade setup suggests you are anticipating a bullish trend after the recent downward move. The strategy seems to be based on a retracement and entry within a demand zone, targeting key resistance levels for profit.
Let me know if you'd like more specific analysis or adjustments!
Trade active
Trade ActiveNote
Take Profit 1 Acieved Trade closed: stop reached
Partialy booked profit on tp 1
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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.
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.