OANDA: GBPJPY Sell Setup
GBP/JPY OANDA:GBPJPY
Based on current price action, the market has approached a key resistance level, forming equal highs—a potential signal of liquidity buildup. Subsequently, a bearish rejection has emerged, suggesting a possible reversal to the downside. As history often repeats itself, there's a strong probability that price may decline again following this structure.
Trade Setup (Risk Parameters):
Entry: 195.453
Stop Loss: 195.807
Target Levels:
Take Profit 1: 194.774
Take Profit 2: 194.253
Take Profit 3: 193.305
I welcome your insights—feel free to share your thoughts in the comments. If you find this analysis helpful, consider boosting and following for more trade ideas. Wishing everyone safe and profitable trading!
source https://www.tradingview.com/chart/GBPJPY/MwrkCx3m-OANDA-GBPJPY-Sell-Setup/
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