GBP/CAD Reversal Play: Riding the Support Zone to Triple TP
In this setup, I identified a strong support zone on the GBP/CAD 4-hour chart, marked in green. The price action tested this support multiple times, confirming its validity. Observing the bullish rejection wicks and the consolidation around this level, I anticipated a potential reversal.
I entered a long position at 1.78902, just above the support zone, ensuring a safe entry with confirmation of bullish momentum. My stop loss is placed slightly below the support at 1.77866 to protect against a false breakout while giving the trade enough breathing room.
For my take profit strategy, I set three target levels aligned with key resistance points:
Take Profit 1 at 1.79635 – This is the first resistance level, providing a conservative target.
Take Profit 2 at 1.79966 – A mid-level resistance, offering a balanced risk-reward ratio.
Take Profit 3 at 1.80379 – Targeting the upper resistance, maximizing potential gains if the bullish trend continues.
GBPCAD GBPCAD
I entered a long position at 1.78902, just above the support zone, ensuring a safe entry with confirmation of bullish momentum. My stop loss is placed slightly below the support at 1.77866 to protect against a false breakout while giving the trade enough breathing room.
For my take profit strategy, I set three target levels aligned with key resistance points:
Take Profit 1 at 1.79635 – This is the first resistance level, providing a conservative target.
Take Profit 2 at 1.79966 – A mid-level resistance, offering a balanced risk-reward ratio.
Take Profit 3 at 1.80379 – Targeting the upper resistance, maximizing potential gains if the bullish trend continues.
GBPCAD GBPCAD עסקה פעילה
הערה
t.me/scalpoooעסקה סגורה: הגיע לסטופ
While this trade didn’t go as planned, we’re learning, improving, and remain committed to your long-term success—thank you
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.