FX:GBPCAD   British Pound / Canadian Dollar
Ride the momentum ?, Give me your thoughts.
I caught this one after my first entry got stopped out. I entered my second time at 2.0550 and am I still riding it. The BIG bearish candle just shot through to 2.0370. I can see the minor support getting broken with a push to 2.03 or even lower in the coming week.
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It seems like stops got hit, we are back below the support level.
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Excellent find! Indeed, this is a clear example of a pull back that retested the previous support now turned resistance. This should still be a good place to short since the first bearish candle only just formed. The previous one is a spinning top which also supports this idea.
2015-12-29 10 o'clock and 14 o'clock are strong bearish candles that cleanly broke through the support line.
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