Hello traders, welcome to another market breakdown.
Today, I’m focusing on GBPCAD with a bullish outlook. On the daily chart, the pair is clearly trending upwards. Recently, price retraced into a daily demand zone and has since shown a bullish structure flip, suggesting a potential continuation of the uptrend.
We have clear upside targets in alignment with the prevailing trend. A conservative stop-loss can be placed just below the daily demand zone—if that level gets taken out, it may indicate a shift in trend, which would invalidate the setup.
Overall, this presents a strong risk-to-reward opportunity in the direction of the higher timeframe momentum.
Let’s see how the trade develops.
Today, I’m focusing on GBPCAD with a bullish outlook. On the daily chart, the pair is clearly trending upwards. Recently, price retraced into a daily demand zone and has since shown a bullish structure flip, suggesting a potential continuation of the uptrend.
We have clear upside targets in alignment with the prevailing trend. A conservative stop-loss can be placed just below the daily demand zone—if that level gets taken out, it may indicate a shift in trend, which would invalidate the setup.
Overall, this presents a strong risk-to-reward opportunity in the direction of the higher timeframe momentum.
Let’s see how the trade develops.
Trade closed: target reached
As you saw, that one was very nice. Price went up to first target and then shortly failed to reach the second. Peraphs I could adapt and I did with taking partials. With stop loss placement being conservative that trade did made a good return of almost 4R and that is nice. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.