This chart shows a potential trade setup for USD/JPY on the 30-minute timeframe. Here's a quick breakdown of what's being illustrated:
Pattern: The chart appears to show a double top or "M" pattern forming, suggesting a bearish reversal.
Entry Point: The trader seems to anticipate a short (sell) position after the price reaches the second peak (highlighted with a red downward arrow).
Stop Loss: Placed just above the green resistance zone, protecting against a false breakout.
Take Profit: Targeted at the lower green support zone, aligning with the previous low.
Support & Resistance: Marked by the green horizontal rectangles.
Text Error: There's a small typo—"TAKE PROEIT" should be "TAKE PROFIT".
Would you like help interpreting the potential trade or backtesting this pattern?
Pattern: The chart appears to show a double top or "M" pattern forming, suggesting a bearish reversal.
Entry Point: The trader seems to anticipate a short (sell) position after the price reaches the second peak (highlighted with a red downward arrow).
Stop Loss: Placed just above the green resistance zone, protecting against a false breakout.
Take Profit: Targeted at the lower green support zone, aligning with the previous low.
Support & Resistance: Marked by the green horizontal rectangles.
Text Error: There's a small typo—"TAKE PROEIT" should be "TAKE PROFIT".
Would you like help interpreting the potential trade or backtesting this pattern?
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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.
📲 Join telegram channel free ..
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.