See daily chart of GBPUSD below for the discussion that follows.
After trending down for some time, GBPUSD is starting to make higher highs and higher lows – suggesting the trend might be changing. I’ll consider going long if price retraces back to support (prior resistance) and I see bullish candlestick price action.
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.
