Currency: GBPCAD
TimeFrame: 15 minutes, 5 minutes
Catalyst: Support and Resistance, Trendline with Breakout
Type: Long
Buy Price: 1.169157
Sell Price: 1.169226
Pips: 6.9
Volume: 0.01
Profit: $0.52
Reason for Buying: For this trade I look for support and resistance ( more than 100 pips as you can see on the chart on green highlight on the 1st chart). My plan is to touch the price either on the support or resistance. For this trade I made long because the price touch on the support level and my trigger is on that candle (pointed by white arrow on the 2nd chart) because as you can see I draw a trend line and the trend is going up that's why my plan is to go long. When the price hit at 1.69282 I immediately change my stop loss (see on the 3rd chart) for the reason of what if the price fall down again and my profit will gone? When scalping we should protect our gain. And as you can see the price fall down again below my entry so my decision was really good.
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