We’re currently observing the GBP/CAD pair, which has been in a strong bullish trend. However, clear signs of a potential reversal are now forming.
A classic Double Top pattern has emerged on the 1H chart, supported by bearish divergence — both indicating weakening bullish momentum. With this confluence, we anticipate a trend reversal from bullish to bearish and are preparing a sell trade setup accordingly.
🔹 Pair: GBP/CAD
🔹 Timeframe: 1H
🔹 Trend: Bullish (reversal expected)
🔹 Pattern: Double Top
🔹 Divergence: Bearish
🔹 Bias: Bearish
🔹 Entry (Sell Stop): 1.87077
🔹 Stop Loss: 1.88371
🔹 Take Profit 1: 1.85783
🔹 Lot Size: 0.21
🔹 Risk/Reward: 1:1
🔹 Risk: $200
🔹 Potential Reward: $200
🎯 Strategy: Entry will activate only after a confirmed break below the neckline of the double top. Risk is controlled with a clear stop-loss and 1:1 reward setup.
📌 #GBPCAD #ForexSignals #DoubleTop #BearishReversal #TechnicalAnalysis #DivergenceTrading #TrendReversal #SmartMoney #1HChart #ForexTradeIdeas #BearishSetup #RiskManagement #PriceAction
A classic Double Top pattern has emerged on the 1H chart, supported by bearish divergence — both indicating weakening bullish momentum. With this confluence, we anticipate a trend reversal from bullish to bearish and are preparing a sell trade setup accordingly.
🔹 Pair: GBP/CAD
🔹 Timeframe: 1H
🔹 Trend: Bullish (reversal expected)
🔹 Pattern: Double Top
🔹 Divergence: Bearish
🔹 Bias: Bearish
🔹 Entry (Sell Stop): 1.87077
🔹 Stop Loss: 1.88371
🔹 Take Profit 1: 1.85783
🔹 Lot Size: 0.21
🔹 Risk/Reward: 1:1
🔹 Risk: $200
🔹 Potential Reward: $200
🎯 Strategy: Entry will activate only after a confirmed break below the neckline of the double top. Risk is controlled with a clear stop-loss and 1:1 reward setup.
📌 #GBPCAD #ForexSignals #DoubleTop #BearishReversal #TechnicalAnalysis #DivergenceTrading #TrendReversal #SmartMoney #1HChart #ForexTradeIdeas #BearishSetup #RiskManagement #PriceAction
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.
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.