GBPCAD 1H

Entry: Short position near 1.74533, based on confirmation of resistance.Stop Loss: Set at 1.74543 to 1.74553.Take Profit: Set at 1.73304.

Risk Management: Ensure the risk-reward ratio is favorable. A common strategy is to aim for at least a 1:2 risk-reward ratio.

Market Conditions: Monitor overall market conditions and news events that could impact price movements.

Indicators: Use technical indicators to confirm the strength of the resistance and the likelihood of reaching the take profit level.

By adhering to these criteria, you can establish a structured approach to trading around the specified resistance and take profit levels.