See daily chart of GBPCAD below for the discussion that follows.
GBPCAD broke resistance. I’m waiting to see if we get a retest, and if there is bullish price action / candles as confirmation of support (prior resistance) before I will consider going long.
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.