See daily chart of GBPCAD below for the discussion that follows.
GBPCAD broke an area of support. I’m looking for a retrace to resistance (previous support) as an opportunity to go short. I will need to see bearish candlestick / price action as confirmation (according to my strategy) before I enter.
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.