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.
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.
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.