Here’s a good trade idea for early next week

keep-calm-i-am-back

Hey traders, how is everything? Are you keeping up with your resolutions?

Any of you put your trading as your top resolution? If you did, I wish you the best in 2014, I know that if you do the things that you are supposed to do, you’ll make it…

And you know what, most traders know what they need to do to start getting results…

So what are you going to do to get there?

Ok now to the trade idea…

GBPCAD Analysis

Do you trade the GBPCAD? I know some traders dont like to trade it because of the spread, but hey, the idea is to trade the currency pairs with the clearest market condition (where you have a good likelihood that the market will continue to move in one direction) not the one with the tightest spread…

Anyway, the GBPCAD is trading around a very important LT level (blue line)… And as you can see, it is ranging in a very clear short term range:

GBPCAD Analysis

So here is my plan (to follow early next week):

If the GBPCAD breaks through the ST resistance level (upper green level at 1.8025) I’ll start looking for long opportunities.

If the GBPCAD breaks through the ST support level (lower green level at 1.7794) I’ll start looking for short opportunities.

You see the beauty about this?

I’m not expecting anything, what ever the market is going to do, I’ll try to adapt and follow it!

A good and relaxed way to trade don’t you think?

You thought I forgot your present…

Of course not.

I’ve been getting a ton of emails asking for the present I promised you last year… but don’t worry, it is going to be just a week late :)

I hope it is ok with you… is it?

I’m waiting a little longer because I want to make sure it will be something useful for you.

Your turn

Hey did you have a good time during the holidays?

Did you start trading already?

What do you think about the GBPCAD trade idea?

Please leave a comment.

forex, GBPCAD


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .