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: [1.73536] 📊
TP 2: [1.73187] 📊
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! 📊