Another simple trade in GBPJPY. Let's start from top to bottom.
The chart had broken down after forming rising wedge on daily timeframe. since then consistant weakness occuring in this pair. we can understand it with Bearish vs Bullish points.
Bearish Points:
Breakdown of rising wedge on daily timeframe.
Reversal flag pattern on 4H Timeframe after forming bearish diverence on 20th September 2026.
Breakdown strong daily support level.
Bullish points.
Currently no bearish point in my opinion the only one is hourly trend making higher highs but its weakening as the price going up.
I will place two Sell Limit orders below the 4H FVG formed dated 22-09-2026.
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Total Risk 2% - 1% each trade
Entry: 210.164 (Sell Limit Order)
SL: 210.949
TP1: 209.04 (Win Ratio: 1:1.40)
TP2: 206.974 (Win Ratio - 1:3.50 or 0:3.50 in case our 1st TP Hit.
The chart had broken down after forming rising wedge on daily timeframe. since then consistant weakness occuring in this pair. we can understand it with Bearish vs Bullish points.
Bearish Points:
Breakdown of rising wedge on daily timeframe.
Reversal flag pattern on 4H Timeframe after forming bearish diverence on 20th September 2026.
Breakdown strong daily support level.
Bullish points.
Currently no bearish point in my opinion the only one is hourly trend making higher highs but its weakening as the price going up.
I will place two Sell Limit orders below the 4H FVG formed dated 22-09-2026.
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Total Risk 2% - 1% each trade
Entry: 210.164 (Sell Limit Order)
SL: 210.949
TP1: 209.04 (Win Ratio: 1:1.40)
TP2: 206.974 (Win Ratio - 1:3.50 or 0:3.50 in case our 1st TP Hit.
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Related publications
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.