gbpjpy 8h risk/reward shifting in bears favor soon

🔸Hello guys, let's review the 8 hour chart for GBPJPY today. The active range is defined
since April 2022, so we are still trading in this range 12 months fast forward. Currently
risk/reward shifting in bears favor since we are closing in on range highs.

🔸Active trading range is defined by range lows at 157.80 and range highs at 167.20,
so this is almost 1000 wide trading range. Premium prices set at 169.40/171.50 and
156.00/154.80 below market price. As we are closing in on range highs risk/reward shifts
in bears favor.

🔸Recommended strategy for GBPJPY position traders / swing traders. Bears focus on short selling
high near premium prices close to 169.40. TP1 bears is +300 pips TP2 bears is +450 pips.
Short-term expecting more gains, so short-term traders may buy dips/pullbacks targeting 169.40,
which is also a decent risk/reward on buy side. good luck traders!

🎁Please hit the like button and
🎁Leave a comment to support our team!

RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

ความคิดเห็น:

short-term bullish outlook until we hit premium prices overhead