Short GBB/CHF - Engulfing Candle at previous resistance

Looking to go short here for two positions. Price has come up to previous resistance and placed a bearish engulfing candle.

Position 1: Stop Loss 45 Pips, Take Profit 49 Pips
Position 2: Stop Loss 45 Pips, Take Profit 113 Pips

If price reaches take profit 1, stop loss on position 2 will go to break even

Comentário:

We are getting bearish engulfing candles on the 30 min chart but its starting to look like a flag pattern. I've moved my stops at red dotted line in case this breaks out up

Trade fechado: stop atingido:

So the flag pattern ended up being true and the price broke up. I had moved my stops down so loss was not that bad.

Always adjusting to the price action to minimize losses!