GBPCAD ____ BE PATIENT WITH THE MARKET
Hello Traders,
So I had taken a long on this pair but I was stopped out at breakeven. However, my bullish bias has not changed because the price is trading in a weekly and daily demand zone and we still have the obvious buy-side liquidity to sweep.
If you look at my chart you will notice that price just created a sell-side liquidity pool (relative equal lows) and as usual, one can expect the price to go ahead to sweep this liquidity.
One piece of advice I will give you guys is: whenever you want to take a trade, always look for where the liquidity pool/trap. This would help you escape being liquidated.
Right now, I am waiting for the price to sweep the sell-side liquidity and form a bullish setup so I can take a trade.
I will insert below my analysis on the trade that stopped me at breakeven
Follow me for more updates and insights.
PREVIOUS GBPCAD ANALYSIS
https://www.tradingview.com/chart/GBPCAD/3Z2JoiIV-GBPCAD-INCOMING-BULLISH-RALLY/
Cheers,
David
So I had taken a long on this pair but I was stopped out at breakeven. However, my bullish bias has not changed because the price is trading in a weekly and daily demand zone and we still have the obvious buy-side liquidity to sweep.
If you look at my chart you will notice that price just created a sell-side liquidity pool (relative equal lows) and as usual, one can expect the price to go ahead to sweep this liquidity.
One piece of advice I will give you guys is: whenever you want to take a trade, always look for where the liquidity pool/trap. This would help you escape being liquidated.
Right now, I am waiting for the price to sweep the sell-side liquidity and form a bullish setup so I can take a trade.
I will insert below my analysis on the trade that stopped me at breakeven
Follow me for more updates and insights.
PREVIOUS GBPCAD ANALYSIS
https://www.tradingview.com/chart/GBPCAD/3Z2JoiIV-GBPCAD-INCOMING-BULLISH-RALLY/
Cheers,
David
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.