This chart shows a potential USD/JPY long (buy) trade setup based on a double bottom pattern or range support bounce. Here’s a quick breakdown of what’s happening:
Key Observations:
Timeframe: 30-minute chart.
Support Zone: Around 142.200–142.500, which has held multiple times (highlighted by orange circles).
Resistance Zone: Around 144.800–145.000, previously acting as a ceiling (red arrows showing rejection).
Current Price: ~143.436, approaching mid-range.
Trade Setup:
Entry: Around current price (~143.4) after support bounce.
Take Profit (TP): Just under 145.000 (the resistance zone).
Stop Loss (SL): Below the support zone (~142.200).
Risk/Reward:
Decent risk/reward ratio,
Key Observations:
Timeframe: 30-minute chart.
Support Zone: Around 142.200–142.500, which has held multiple times (highlighted by orange circles).
Resistance Zone: Around 144.800–145.000, previously acting as a ceiling (red arrows showing rejection).
Current Price: ~143.436, approaching mid-range.
Trade Setup:
Entry: Around current price (~143.4) after support bounce.
Take Profit (TP): Just under 145.000 (the resistance zone).
Stop Loss (SL): Below the support zone (~142.200).
Risk/Reward:
Decent risk/reward ratio,
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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.
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t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
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.