GBPCAD Pending Bearish Cypher Pattern

In case price climbs a little further, we will have the completion of a bearish cypher pattern at a valid slope slide parallel which has acted as resistance several times previously. Sl and tp as shown at the chart. If price reaches the first target we move sl at breakeven at 2nd position.

Long term slide parallel:

Trade active

Trade closed: target reached:

Move sl at 2nd position at breakeven for a risk free trade

Trade closed: target reached:

Nice way to begin 2017.. 160 pips booked in 2nd position..!