GBP/CAD Reversal Play: Riding the Support Zone to Triple TP

4 Şub

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

4 Şub

İşlem aktif

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t.me/scalpooo

6 Şub

İşlem kapandı: durdurma seviyesi

While this trade didn’t go as planned, we’re learning, improving, and remain committed to your long-term success—thank you