This is a USD/JPY 4-hour chart with technical analysis indicating a potential trade setup. Here’s the breakdown:
Current Market Structure:
The price is currently in an uptrend after recovering from a previous downtrend.
There is a visible zig-zag pattern (yellow lines) representing price movements.
The price has reached a resistance zone and may face rejection.
Highlighted Areas:
Red Zone (Potential Short Entry):
The red box at the resistance level suggests that the price might retrace downward before continuing the uptrend.
A red downward arrow indicates a possible rejection from this zone.
Blue Box (Potential Bullish Zone):
The blue box represents a possible accumulation or retracement area.
Green arrows at the bottom indicate possible support levels where the price may find buying pressure.
Expected Price Movement:
1. A possible rejection from the red zone (resistance).
2. A drop to the lower support region (inside the red box).
3. A potential bounce from support (green arrows) leading to an upward continuation.
Trading Plan:
Buy Opportunity: Look for bullish confirmation near the green arrows.
Stop Loss: Below the red support zone.
Take Profit: Inside the blue box at a higher price level.
This analysis suggests a long (buy) opportunity after a pullback. However, always confirm with additional indicators like RSI, MACD, or moving averages before executing a trade.
Current Market Structure:
The price is currently in an uptrend after recovering from a previous downtrend.
There is a visible zig-zag pattern (yellow lines) representing price movements.
The price has reached a resistance zone and may face rejection.
Highlighted Areas:
Red Zone (Potential Short Entry):
The red box at the resistance level suggests that the price might retrace downward before continuing the uptrend.
A red downward arrow indicates a possible rejection from this zone.
Blue Box (Potential Bullish Zone):
The blue box represents a possible accumulation or retracement area.
Green arrows at the bottom indicate possible support levels where the price may find buying pressure.
Expected Price Movement:
1. A possible rejection from the red zone (resistance).
2. A drop to the lower support region (inside the red box).
3. A potential bounce from support (green arrows) leading to an upward continuation.
Trading Plan:
Buy Opportunity: Look for bullish confirmation near the green arrows.
Stop Loss: Below the red support zone.
Take Profit: Inside the blue box at a higher price level.
This analysis suggests a long (buy) opportunity after a pullback. However, always confirm with additional indicators like RSI, MACD, or moving averages before executing a trade.
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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.
Follow my Telegram channel get more vip signal link in Bio click there
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.