See daily chart of GBPUSD below for the discussion that follows.
GBPUSD has been in a downtrend for a while now. It broke down and made another lower low this past Friday. I will look to go short if price retraces back to resistance (previous support) and I see the relevant price action / candles as per my strategy.
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.
Thanks and Regards,
Trading SOS SOS