GBPJPY SELL LIMIT SETUP. (SUPPLY-DEMAND: PRICE ACTION STRATEGY)
Currencies: GBP/JPY
Action: Sell Limit Setup
Entry: 193.620
Stop Loss: 195.500
Top Profit: 186.980
Trade Reason:
-Analysis is done through multiple time frame.
-Monthly TF, price is doing an uptrend, trend is strong.(Up)
-Weekly TF, price fails to make higher high, get into ranging.(Ranging-Down)
-Daily TF, uptrend has broken, expect an upside return to the uptrend line+supply zone and drop heavily. TP is set at he closest potential demand zone.
Action: Sell Limit Setup
Entry: 193.620
Stop Loss: 195.500
Top Profit: 186.980
Trade Reason:
-Analysis is done through multiple time frame.
-Monthly TF, price is doing an uptrend, trend is strong.(Up)
-Weekly TF, price fails to make higher high, get into ranging.(Ranging-Down)
-Daily TF, uptrend has broken, expect an upside return to the uptrend line+supply zone and drop heavily. TP is set at he closest potential demand zone.
