GBPCAD - Trend-Following Setup ↗️

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

GBPCAD has been overall bullish trading inside the flat rising channel in orange and it is currently approaching the lower bound / orange trendline.

Moreover, the zone 1.68 is a strong support.

🏹 So the highlighted orange circle is a strong area to look for trend-following buy setups as it is the intersection of the green support and lower orange trendline acting as a non-horizontal support.

As per my trading style:
As GBPCAD approaches the lower orange circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich