This chart is a technical analysis of the USD/JPY currency pair on a 30-minute timeframe. Here's a breakdown of the chart:
Pattern Identified: An inverse head and shoulders pattern, often seen as a bullish reversal signal.
Support Zone: The green horizontal zone near 142.870 suggests strong buying interest; price has tested and bounced from it multiple times.
Entry Point: Indicated by the last green arrow (right shoulder bounce), suggesting a long (buy) position.
Stop Loss: Below the support zone (highlighted in red), protecting against a downward breakout.
Take Profit Levels:
First at approximately 144.750 (minor resistance).
Final target at around 145.856, which aligns with a previous high.
This setup aims to capitalize on the bullish reversal pattern with a favorable risk-to-reward ratio.
Would you like help calculating the exact risk-reward ratio for this trade?
Pattern Identified: An inverse head and shoulders pattern, often seen as a bullish reversal signal.
Support Zone: The green horizontal zone near 142.870 suggests strong buying interest; price has tested and bounced from it multiple times.
Entry Point: Indicated by the last green arrow (right shoulder bounce), suggesting a long (buy) position.
Stop Loss: Below the support zone (highlighted in red), protecting against a downward breakout.
Take Profit Levels:
First at approximately 144.750 (minor resistance).
Final target at around 145.856, which aligns with a previous high.
This setup aims to capitalize on the bullish reversal pattern with a favorable risk-to-reward ratio.
Would you like help calculating the exact risk-reward ratio for this trade?
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Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
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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.