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Trader_366_FX

GBPCAD INTRA MARKET ANALYSIS: MARCH 15, 2021

Short
British Pound / Canadian Dollar (FX:GBPCAD)  
Trader_366_FX Updated   
FX:GBPCAD   British Pound / Canadian Dollar
Support and Resistance Candlestick Analysis Multiple Time Frame Analysis
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supportandresistance candlestick mtfa
Here we see a potential short position as price just broke out of a bearish flag pattern on H4 and retested on H1, as well as broke out of a strong support level looking left.

Looking for candlestick confirmation on H1 to take our short position and try to ride the bear run down to zone 1.72390 and 1.72263
Comment:
snapshot

Price is past our 1RR and reaching our 1:2 TP1 Target.

Moving my SL to just below break-even to secure some profits and let this run risk-free to TP2 at about 1.71318 which is 1:4 RR.
Comment:
snapshot

TP1 smashed!

Breaking SL to break even
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