GBPCAD - Bearish Trend
Updated
Based on the chart, it appears that there is a bearish trend forming as evidenced by Lower highs (LHs) and lower lows (HLs).
Further analysis using the Relative Strength Index (RSI) indicates that there is currently no divergence present. I recommend taking a short trade with a risk/reward ratio of 1:1 by using Fib tool.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
Further analysis using the Relative Strength Index (RSI) indicates that there is currently no divergence present. I recommend taking a short trade with a risk/reward ratio of 1:1 by using Fib tool.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
Trade closed: target reached
Both TPs HIT
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