This is a GBP/USD (British Pound to U.S. Dollar) 1-hour chart from TradingView. The chart highlights a resistance zone marked by a purple rectangular box around the 1.29467 level.
Key Observations:
Resistance Zone: The price has approached a key resistance level where previous price actions indicate strong selling pressure.
Trade Setup:
The red box represents the stop-loss zone above resistance (~1.29767).
The green box represents the take-profit target below (~1.28144).
The price appears to be rejecting the resistance, suggesting a possible short trade.
Market Trend: Prior price action shows an upward trend before reaching this resistance zone.
This chart likely represents a trader’s plan to enter a short position at the resistance, expecting a price reversal. Let me know if you need further analysis!
Key Observations:
Resistance Zone: The price has approached a key resistance level where previous price actions indicate strong selling pressure.
Trade Setup:
The red box represents the stop-loss zone above resistance (~1.29767).
The green box represents the take-profit target below (~1.28144).
The price appears to be rejecting the resistance, suggesting a possible short trade.
Market Trend: Prior price action shows an upward trend before reaching this resistance zone.
This chart likely represents a trader’s plan to enter a short position at the resistance, expecting a price reversal. Let me know if you need further analysis!
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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.
XAUUSD GOLD + BTCUSD Daily 5-6 Free Signals📊🚀
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/+edOvr8d3ZTkyMzdk
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/+edOvr8d3ZTkyMzdk
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.