Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
GBPJPY has been trading in range between our blue/green support and resistance zones.
Lately, from a medium-term perspective, GBPJPY has been bullish trading inside the rising broadening wedge pattern and it is currently approaching the upper red trendline.
Moreover, the blue zone 171.0 is a strong resistance.
🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As GBPJPY is sitting around the upper purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GBPJPY has been trading in range between our blue/green support and resistance zones.
Lately, from a medium-term perspective, GBPJPY has been bullish trading inside the rising broadening wedge pattern and it is currently approaching the upper red trendline.
Moreover, the blue zone 171.0 is a strong resistance.
🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As GBPJPY is sitting around the upper purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.