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! 📊
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