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Gbpcad_setup

GBPCAD Potential Buying opportunity Buy Description: Pair: GBPCAD SL: 20-30 pips TP: 80 to 100 pips We have identified a potential buying opportunity in pair. The price has shown signs of bullish momentum and is currently trading above key support levels. Our entry point for this trade is Shown in The chart with a stop loss (SL) set at 20 to 30 pip . This provides a risk-reward ratio of approximately 1:3,4 ensuring a favorable risk management strategy. Our take profit (TP) target is set at the area shown on the chart aiming for a potential gain of 80 to 100 pips. This level aligns with previous resistance and offers a high probability of price reversal or consolidation. Please note that trading involves risks, and it is essential to manage your positions carefully. Always adjust your position size according to your risk tolerance and ensure you have a clear understanding of the market conditions before entering any trades.
Long
by Fx_tradertareen
GBPCADeverything gets the meaning when is drawn. can u see that red B wave and look how complex corrections can become. on the next wave down that big diagonal is the third wave and now its making 4th wave. due to the shortness of the 2nd, 4th will be longer speaking of time. (from my observing 2nd and 4th are equal or inversely proportional) so the drawn form of 4th is taken as most probable given the structure so far... all tho as it looks now and may be finished as 4th part and rush down, but those supports down will most definitely stall it there whether for a correction for more down, or i vote for daily changing trend for new structure up, cose with that last part here the weekly structure will be finished. ;) if u understand what i mean... if ur interested for low time frame set ups, lets discus it here...
by sharing_is_caring