In this Analysis we look at the GBPJPY price on the 30-minute chart, there is a possibility for a SELL position, see below for further explanation:
What we look for:
the downside prevails as long as 160.72 is resistance.
Alternative scenario:
the upside breakout of 160.72, would call for 161.46 and 161.90.
Pivot point:
Our pivot point is at 160.72.
My entry details:
- Entry Level: 159.99
- Take Profit level: 159.04
- Take Profit level 2: 158.60
- Stop Loss level: 161.46
- Risk: 1% of balance
*This Analysis is for educational purposes only and is not financial advise.
What we look for:
the downside prevails as long as 160.72 is resistance.
Alternative scenario:
the upside breakout of 160.72, would call for 161.46 and 161.90.
Pivot point:
Our pivot point is at 160.72.
My entry details:
- Entry Level: 159.99
- Take Profit level: 159.04
- Take Profit level 2: 158.60
- Stop Loss level: 161.46
- Risk: 1% of balance
*This Analysis is for educational purposes only and is not financial advise.
