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GBPCAD trade ideas

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: 📊 TP 2: 📊 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! 📊
Short
by Earn_withHassaan
Sell GBPCAD Bearish ChannelThe GBP/CAD pair on the M30 timeframe presents a potential selling opportunity due to a well-defined channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Poin ts: Sell Entry: Consider entering a short position around the current price of 1.7405, positioned close to the top of Channel. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.7373 2nd Support – 1.7352 Stop-Loss: To manage risk, place a stop-loss order above 1.7425 This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_FOREX_TRADING
1
GBP/CAD has a strong bullish momentum, could it rise further?Price is falling towards a support level which is a pullback support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.7329 Why we like it: There is a pullback support level which lines up with the 38.2% Fibonacci retracement. Stop loss: 1.7207 Why we like it: There is a pullback support level which lines up with the 61.8% Fibonacci retracement. Take profit: 1.7620 Why we like it: There is a pullback resistance level which lines up with the 161.8% Fibonacci extension. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
1