11th of March 2021 Identify, plan and trade: It's important | Blueberry Markets

11th of March 2021

Identify, plan and trade:

It's important when looking for a trade to follow a strict plan.

IDENTIFY: We have identified GBPCAD in line with our trend strategy.

PLAN: The GBPCAD price has retraced back to the previous lows where the trend could continue from. The daily candle closed back within the previous range suggesting buyers are losing momentum.

TRADE: We will place a SELL STOP order at the candle low with stops above the highs. If this trade does not trigger by the end of the trading day cancel the order.