GBP/JPY PULL BACK AND SWING UP
Key Levels: 154.500, 141.750, 129.000 (closes in line chart)
Monthly: January candle made a fakeout of the 141.750 because of the Brexit and stopped at previous demand area.
Weekly: H&S, Take profit is determined using Fibonacci -27.20% and institutional level 143.800.
Daily: Double bottom made.
4H: explosion from the fakeout, expecting pullback to key level area. (141.800 - 141.650)
First setup is made out of Price Action + Trendline + Gap + 78.6% with a 1:3 risk/reward ratio. Market execution = 1% risk.
Second setup analysis is made above and it can change due to price action. Monday is manipulation day.
By now: BUY LIMIT: 141.750 STOP LOSS: 141.450 TAKE PROFIT 1: 143.800
Risk/reward ratio 1:6
All feedback will be appreciated.
Monthly: January candle made a fakeout of the 141.750 because of the Brexit and stopped at previous demand area.
Weekly: H&S, Take profit is determined using Fibonacci -27.20% and institutional level 143.800.
Daily: Double bottom made.
4H: explosion from the fakeout, expecting pullback to key level area. (141.800 - 141.650)
First setup is made out of Price Action + Trendline + Gap + 78.6% with a 1:3 risk/reward ratio. Market execution = 1% risk.
Second setup analysis is made above and it can change due to price action. Monday is manipulation day.
By now: BUY LIMIT: 141.750 STOP LOSS: 141.450 TAKE PROFIT 1: 143.800
Risk/reward ratio 1:6
All feedback will be appreciated.
Transaction en cours
Commentaire:
www.tradingview.com/chart/A4xw2OAq/
Trade fermée: ordre d’arrêt atteint