Evening Traders,
Today’s analysis – GBPJPY – trading under local resistance where further downside is probable,
Points to consider,
- Price Action Corrective
- Local S/R Resistance
- Swing Low Objective
- Low Trading Volume
GBPJPY’s immediate price action is trading below a local s/r, a technical trading location that is giving price current resistance, allowing for a short bias.
The objective is the swing low, taking this level out will increase the probability of a trend continuation.
The current volume profile is below average, an influx is highly imminent when testing key trade locations.
Overall, in my opinion, GBPJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“The market is a device for transferring money from the impatient to the patient.” – warren buffet
Today’s analysis – GBPJPY – trading under local resistance where further downside is probable,
Points to consider,
- Price Action Corrective
- Local S/R Resistance
- Swing Low Objective
- Low Trading Volume
GBPJPY’s immediate price action is trading below a local s/r, a technical trading location that is giving price current resistance, allowing for a short bias.
The objective is the swing low, taking this level out will increase the probability of a trend continuation.
The current volume profile is below average, an influx is highly imminent when testing key trade locations.
Overall, in my opinion, GBPJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“The market is a device for transferring money from the impatient to the patient.” – warren buffet
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.