cyanfrog
Short

GBPCAD Price action short signal

FX:GBPCAD   British Pound/Canadian Dollar
2 months ago
The pair is currently in a consolidation box just below pivot point and exactly at 50% of the box. We got strong longer term down trend, double high and nice outside bar.
I entered the short on outside bar low break and set initial SL just above outside bar high. If you've seen my older trades you will know, that my SLs are dynamic and I adjust them every day - trying to set break even as soon as the price establishes strong position under important levels.
As you can see, outside bar closed just below previous support level and at monthly pivot point. I'll use this points for my future SLs.
First target is obvious bottom of the box.
2 months ago
Trade active: SL is now at BE
2 months ago
Trade closed manually: Closing early with small profit. Daily pin bar formed.
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