GBPCAD ____ BE PATIENT WITH THE MARKETHello 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
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Cheers,
David
