Looking at a potential short opportunity on USD/JPY. Price has been ranging within a clear consolidation zone and recently tapped into the upper range of that zone, showing signs of rejection.
📍 Entry Zone: Near 147.950 resistance
🚫 Stop Loss: Just above the recent high
🎯 Target: 145.756
🧮 Risk-to-Reward Ratio: Solid RRR setup
This trade is based on a liquidity sweep at the highs of the range followed by a market structure shift. I’m anticipating a move back down toward the lower boundary of the range as momentum shifts bearish.
What’s your take on this setup? Would you have played it differently? Let’s discuss! 💬
📍 Entry Zone: Near 147.950 resistance
🚫 Stop Loss: Just above the recent high
🎯 Target: 145.756
🧮 Risk-to-Reward Ratio: Solid RRR setup
This trade is based on a liquidity sweep at the highs of the range followed by a market structure shift. I’m anticipating a move back down toward the lower boundary of the range as momentum shifts bearish.
What’s your take on this setup? Would you have played it differently? Let’s discuss! 💬
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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.
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.