See daily chart of GBPCAD below for the discussion that follows.
GBPCAD has been in a downtrend for a while now. It recently put in a higher high and is currently testing support (previous resistance). If its going to reverse the downtrend, this would be a good place to start. I will look to go long should I see the relevant price action / candles as per my strategy.
Be careful trading out there.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.
Trading SOS SOS