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nw7

Short on GBP/CAD after closed below BB+1SD on weekly chart

Short
British Pound / Canadian Dollar (FX:GBPCAD)  
nw7  
FX:GBPCAD   British Pound / Canadian Dollar
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Last week, the price closed below BB+1SD (Bollinger Band +1 Standard Deviation), which means the market may move down for a short term.

I was looking to short on a shorter time frame this week.

Yesterday (08.09.2015), Inside Bar was formed at BB+2SD (Bollinger Band +2 Standard Deviation) and created a false breakout at previous high.

Placed a spending order to short below low of IB (Inside Bar).
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