Get started

Gbpcadtrade

GBP/CAD Bullish Reversal Setup – Demand Zone PlaybookBias: Bullish 📈 Key Zones & Levels: 🔵 Demand Zone: * Area: 1.83024 - 1.83527 * Role: Strong support where buyers previously entered ✅ Entry Point: * 1.83527 * Right above the demand zone — wait for price to retrace here 🛑 Stop Loss: * 1.83024 * Below demand zone — protects against a breakdown 🎯 Target Point: * 1.85280 * Upper resistance level — offers ~3:1 reward-to-risk ratio. Structure & Indicators: 📏 Bullish Flag/Channel: * Price is consolidating inside a small ascending channel * Orange arrow suggests potential drop to demand zone before rising 🧭 EMA (7-period): * Currently at 1.84020 * Price above EMA = short-term uptrend still intact. Trade Plan: 1. ✨ Wait for price to dip into the demand zone 2. 🕵️‍♂️ Look for bullish signals (candlestick patterns or bounce) 3. ✅ Enter around 1.83527 4. 🛑 Stop loss at 1.83024 5. 🎯 Target 1.85280
Long
by Jameshead007
GBPCAD - FALSE BREAKDOWN SIGNALS MORE UPSIDESymbol - GBPCAD CMP - 1.8150 The GBPCAD pair is currently exhibiting a false breakdown of its trend support. In the context of a weakening US dollar, the British pound has entered a rally phase, which is advantageous for the currency pair. Fundamentally, the outlook is favorable for both the GBP & CAD, given the ongoing depreciation of the dollar. During the current corrective phase, the pair is testing support levels without the potential for further downward movement. This correction is likely to conclude with a false breakdown and subsequent consolidation above the support level, within the established channel. If the bulls manage to maintain defense above the 1.8144 - 1.8230 range, the uptrend is expected to resume. Key support levels: 1.8150, 1.7978 Key resistance levels: 1.8233, 1.8379 Given the prevailing uptrend, the relative strength of the currency pair amidst a weak dollar, and the occurrence of a false breakdown at support, it is reasonable to conclude that downward price movement is unlikely. Therefore, it is prudent to consider potential continuation of the uptrend.
Long
by akshit_official
4