Yesterday GBPCAD provided a very nice entry (and result) in the direction of the main move. GBCAD is in a short/mid-term uptrend that has accelerated upwards in the recent weeks. Trend is key to the success of these types of trades. The abscence of a definitive trend largely reduces the chances of making successful trades.
One can easily figure ot the short-mid-term trend by looking at the H1 time frame and even perform some zoom out on that same TF.
Here are the charts that clarify my thoughts.
The pair is at least in a short term trend.
Entry level in blue, stop loss in red and take profit in green.
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