Counter momnentum bias for GBPCAD. This is the type in which I can see the retracement leg being setup and I should by right not trade it.
Instead I went for it.
So this is what I get when trading the counter-momentum. I will term this as b3s4 on h1. After some dicussion with a fellow trader, I have gotten a revelation in that b3s4 is only good in h4 context, but not h1 b3s4. There is simply too little n certainty to do it.
If I were to do it in h1 context, then that has got to be more classy with better entry level and well managed risk.