Market Context
Last week, GBPUSD broke above the resistance / previous week’s high at 1.3268.
Current price action is ranging between 1.3316 – 1.3384.
I anticipate a retracement into the prior supply zone, now acting as demand, around 1.3259 – 1.3275.
Trade Rationale
Breakout above weekly high confirms bullish momentum.
Demand zone at 1.3259 – 1.3275 offers a potential area for price reaction and continuation higher.
Tight stop below demand zone ensures controlled risk.
Target aligns with upper range resistance near 1.3350.
Trade Setup
Entry: 1.3280
Stop Loss (SL): 1.3255
Take Profit (TP): 1.3350
Risk-to-Reward (RR): 2,8x
Execution Notes
Wait for price confirmation at demand zone before entry.
⚠️ Disclaimer ⚠️This journal entry is for educational and documentation purposes only. It does not constitute financial advice or a recommendation to trade. All trading involves risk, and past performance does not guarantee future results. Always conduct your own analysis and consult with a licensed financial professional before making trading decisions.
Last week, GBPUSD broke above the resistance / previous week’s high at 1.3268.
Current price action is ranging between 1.3316 – 1.3384.
I anticipate a retracement into the prior supply zone, now acting as demand, around 1.3259 – 1.3275.
Trade Rationale
Breakout above weekly high confirms bullish momentum.
Demand zone at 1.3259 – 1.3275 offers a potential area for price reaction and continuation higher.
Tight stop below demand zone ensures controlled risk.
Target aligns with upper range resistance near 1.3350.
Trade Setup
Entry: 1.3280
Stop Loss (SL): 1.3255
Take Profit (TP): 1.3350
Risk-to-Reward (RR): 2,8x
Execution Notes
Wait for price confirmation at demand zone before entry.
⚠️ Disclaimer ⚠️This journal entry is for educational and documentation purposes only. It does not constitute financial advice or a recommendation to trade. All trading involves risk, and past performance does not guarantee future results. Always conduct your own analysis and consult with a licensed financial professional before making trading decisions.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.