Areas for potential support on GBPCAD monthly chart
Updated
A previous price level that was a resistance my have turned into support. At these levels price may turn bullish. So, I will be watching the daily time frame for bull candles to post. If I get those bull candles, then I'll be watching the 1H to place buy limit orders at previous levels. Stops below the level. Risk is 1/4% of deposit.
Note
Daily chart has been posting bull candles since the end of May.Sorry, I marked up the 1H before posting about the 1D.
Note
Rough look at what entries and stops would look like. I risk 1/4% of my deposit per trade. Account margin % at approximately 28%. I'm comfortable with increasing the margin % to 38%, so I will continue to look for entries on this pair as well as others. Note
Bull candle posted on daily time frame.Note
Rough look at entries and stop losses on 1H time frame.
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