This chart represents a USD/JPY (U.S. Dollar / Japanese Yen) 30-minute trading setup. Here's a breakdown of what's shown:
Downtrend: Price drops sharply from around 143.95 to a support zone just above 141.80.
Double Bottom Pattern: Two lows are marked with orange circles, suggesting a potential reversal.
Entry Point: Marked by a green arrow where price bounces off the support zone.
Take Profit Zones:
First Take Profit: Around 143.25, near previous resistance.
Final Take Profit: Around 143.95, retesting the previous high.
Stop Loss: Positioned below the support zone (~141.70), minimizing risk if the setup fails.
This is a classic reversal setup using a double bottom pattern, targeting previous resistance levels.
Are you considering trading this setup or analyzing it for learning purposes?
Downtrend: Price drops sharply from around 143.95 to a support zone just above 141.80.
Double Bottom Pattern: Two lows are marked with orange circles, suggesting a potential reversal.
Entry Point: Marked by a green arrow where price bounces off the support zone.
Take Profit Zones:
First Take Profit: Around 143.25, near previous resistance.
Final Take Profit: Around 143.95, retesting the previous high.
Stop Loss: Positioned below the support zone (~141.70), minimizing risk if the setup fails.
This is a classic reversal setup using a double bottom pattern, targeting previous resistance levels.
Are you considering trading this setup or analyzing it for learning purposes?
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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.