GBP/JPY - Swing trade - Long - 1:3.33 RR
📈 Trendline Break and Retest Setup
I'm sharing a potential long trade idea based on a clean trendline break and retest. After a sharp downward movement, price has broken through the descending trendline, signalling a possible reversal.
🟢 Trade Plan:
Entry: Waiting for confirmation of a retest around 189.358 before entering long.
Stop-Loss (SL): Positioned below the recent swing low at 183.721 to protect against downside risk.
Take-Profits (TP):
TP1: 193.490 - First resistance area where I'll also move my SL to breakeven.
TP2: 199.480 - Key level above to watch for further upside.
TP3: 208.120 - Final target if the bullish momentum continues.
I'm sharing a potential long trade idea based on a clean trendline break and retest. After a sharp downward movement, price has broken through the descending trendline, signalling a possible reversal.
🟢 Trade Plan:
Entry: Waiting for confirmation of a retest around 189.358 before entering long.
Stop-Loss (SL): Positioned below the recent swing low at 183.721 to protect against downside risk.
Take-Profits (TP):
TP1: 193.490 - First resistance area where I'll also move my SL to breakeven.
TP2: 199.480 - Key level above to watch for further upside.
TP3: 208.120 - Final target if the bullish momentum continues.
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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.