Analysis of GBPCAD
🚨 Trade Alert: GBPCAD Double Top & Rising Wedge Reversal Pattern 🚨
We have identified a strong bearish setup in GBPCAD, marked by the following patterns:
Double Top Pattern 🔃
Rising Wedge Reversal Pattern 🔼📉
Entry Point:
We'll wait for the breakout of the neckline of the Double Top. A sell stop order has been placed at the breakout point of the Double Top.
Target Prices (TP):
TP 1: [1.73536] 📊
TP 2: [1.73187] 📊
Stop Loss (SL): 1.74227
Place your stop loss above the nearest significant resistance or recent swing high to manage risk.
Trade Summary:
Sell Stop Order: At the breakout of the Double Top neckline
TP 1: 1,73536
TP 2: 1.73187
SL: Above the nearest significant resistance or recent swing high
Technical Indicators:
The completion of the Rising Wedge Reversal Pattern adds to the bearish sentiment, confirming the likelihood of a downward move.
Trade Type: Short Swing 📉
Good Luck! 🍀
Stay informed and trade smart! 📊
We have identified a strong bearish setup in GBPCAD, marked by the following patterns:
Double Top Pattern 🔃
Rising Wedge Reversal Pattern 🔼📉
Entry Point:
We'll wait for the breakout of the neckline of the Double Top. A sell stop order has been placed at the breakout point of the Double Top.
Target Prices (TP):
TP 1: [1.73536] 📊
TP 2: [1.73187] 📊
Stop Loss (SL): 1.74227
Place your stop loss above the nearest significant resistance or recent swing high to manage risk.
Trade Summary:
Sell Stop Order: At the breakout of the Double Top neckline
TP 1: 1,73536
TP 2: 1.73187
SL: Above the nearest significant resistance or recent swing high
Technical Indicators:
The completion of the Rising Wedge Reversal Pattern adds to the bearish sentiment, confirming the likelihood of a downward move.
Trade Type: Short Swing 📉
Good Luck! 🍀
Stay informed and trade smart! 📊
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.
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.