Hello awesome traders! 👋
Hope you’ve managed to grab some solid pips from the markets this week. As we head into the weekend, I’m wrapping things up by dropping a few clean chart setups for you to review and reflect on.
Enjoy the weekend, recharge well — and I’ll see you sharp and ready next week for more structure-led opportunities.
📌 Pattern Breakdown
We’ve been tracking a developing rectangle channel between 197.94 (support) and 199.74 (resistance):
🔹 Price formed a clear 4-leg compression
🔹 CD leg bounced off lower support near 197.96
🔹 We’re now approaching the upper edge of the channel at 199.74
🔹 Compression structure suggests breakout potential is building
🚨 Breakout Setup in Focus
🔸 A breakout above 199.75 opens the door toward:
✅ Target 1 Zone:
• 1.5 extension = 200.76
✅ Target 2 Zone:
• 2.0 extension = 201.69
📌 Flip-side: A failed breakout and close back below 197.94 would shift structure toward:
🔻 Bearish Breakdown Targets:
• 1.5 = 197.02
• 2.0 = 196.09
• 2.618 = 194.94
We stay flexible — trade the breakout, not the anticipation.
🧠 Key Concepts in Play
✅ Rectangle consolidation
✅ Breakout-ready structure
✅ Defined upper/lower breakout levels
✅ Volume and reaction at edges = trigger
🗝 Final Thoughts
GBPJPY is boxed in tight — but momentum is clearly leaning bullish.
If we get that clean break above 199.75 with confirmation (volume, close, continuation), the 200.76+ range is firmly in sight. No breakout? No problem — structure has a plan either way.
“Boxes don’t trap the market — they build the tension. Breakouts reward the patient.”
Hope you’ve managed to grab some solid pips from the markets this week. As we head into the weekend, I’m wrapping things up by dropping a few clean chart setups for you to review and reflect on.
Enjoy the weekend, recharge well — and I’ll see you sharp and ready next week for more structure-led opportunities.
📌 Pattern Breakdown
We’ve been tracking a developing rectangle channel between 197.94 (support) and 199.74 (resistance):
🔹 Price formed a clear 4-leg compression
🔹 CD leg bounced off lower support near 197.96
🔹 We’re now approaching the upper edge of the channel at 199.74
🔹 Compression structure suggests breakout potential is building
🚨 Breakout Setup in Focus
🔸 A breakout above 199.75 opens the door toward:
✅ Target 1 Zone:
• 1.5 extension = 200.76
✅ Target 2 Zone:
• 2.0 extension = 201.69
📌 Flip-side: A failed breakout and close back below 197.94 would shift structure toward:
🔻 Bearish Breakdown Targets:
• 1.5 = 197.02
• 2.0 = 196.09
• 2.618 = 194.94
We stay flexible — trade the breakout, not the anticipation.
🧠 Key Concepts in Play
✅ Rectangle consolidation
✅ Breakout-ready structure
✅ Defined upper/lower breakout levels
✅ Volume and reaction at edges = trigger
🗝 Final Thoughts
GBPJPY is boxed in tight — but momentum is clearly leaning bullish.
If we get that clean break above 199.75 with confirmation (volume, close, continuation), the 200.76+ range is firmly in sight. No breakout? No problem — structure has a plan either way.
“Boxes don’t trap the market — they build the tension. Breakouts reward the patient.”
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.
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.