Hello fellow risk-takers

GBPCAD's bias is bullish in my books. The red descending trendline is unreliable and prone for breakouts; I call these types of trendlines "even trendlines— i.e., AB = BC" and data shows that, more often than not, these trendlines break.

I am bullish on this pair, and already opened a long position on Thursday of last week. If this trendline breaks as expected, I will be looking to add a further position. However, price is erratic at this point, and the probability of tight stop-losses being wiped out is increased.

Happy Trading.
______
*This information is for entertainment purposes only and shouldn't be construed as investment advice.
Chart PatternsGBPCADgbpcadlongTrend AnalysisWave Analysis

Disclaimer