This chart represents a short (sell) trade setup for USD/JPY on the 15-minute timeframe.
Chart Breakdown:
Trendline: A clear descending trendline indicates a bearish market structure.
Entry Zone: The price is expected to enter the resistance area (marked as "Entry Zone") around 144.191.
Stop Loss (SL): Placed above the resistance zone at 144.529, in case the price breaks out upward.
Target 1: 143.744 – the first level of potential profit-taking.
Target 2: 143.379 – further continuation of the bearish move.
Final Target: 143.076 – the major target if bearish momentum continues.
Idea Summary:
This setup anticipates that the price will reject the trendline and entry zone and then drop to lower support levels. It’s a classic lower high formation with trendline confluence, aiming for multiple take-profits on the way down.
Chart Breakdown:
Trendline: A clear descending trendline indicates a bearish market structure.
Entry Zone: The price is expected to enter the resistance area (marked as "Entry Zone") around 144.191.
Stop Loss (SL): Placed above the resistance zone at 144.529, in case the price breaks out upward.
Target 1: 143.744 – the first level of potential profit-taking.
Target 2: 143.379 – further continuation of the bearish move.
Final Target: 143.076 – the major target if bearish momentum continues.
Idea Summary:
This setup anticipates that the price will reject the trendline and entry zone and then drop to lower support levels. It’s a classic lower high formation with trendline confluence, aiming for multiple take-profits on the way down.
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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.
Trading isn’t just numbers — it’s a mindset.📊 Stay patient, trust your analysis, and let the market speak.📈 Every candle tells a story, so read it wisely and ride the wave. join now for daily trade setups.
t.me/+jNlT-eN1zIs1YTc0
t.me/+jNlT-eN1zIs1YTc0
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.