How can I improve TTFB for Magento 2 with NGINX?

I am running Magento 2 with NGINX, MariaDB, Varnish and Redis on a Digital Ocean droplet. I am using Cloudflare as my CDN and using their Polish feature to optimize images. However, my TTFB is still slow. I have read a number of articles saying that there could be some changes to my NGINX configuration that may help but I am not sure where to start. Any help would be appreciated. Below is my config.

upstream fastcgi_backend {
server  unix:/run/php/php7.4-fpm.sock;
}

server {
    if ($host = www.mydomain.com) {
        return 301 https://$host$request_uri;
    } # managed by Certbot


    if ($host = mydomain.com) {
        return 301 https://$host$request_uri;
    } # managed by Certbot


	listen 80;
    server_name mydomain.com www.mydomain.com;
    return 301 https://$server_name$request_uri;





}

server {
	listen 443 ssl http2;
    server_name mydomain.com www.mydomain.com;    
            
    ssl_certificate /etc/letsencrypt/live/mydomain.com/fullchain.pem; # managed by Certbot
    ssl_certificate_key /etc/letsencrypt/live/mydomain.com/privkey.pem; # managed by Certbot 
    ssl_trusted_certificate /etc/letsencrypt/live/mydomain.com/chain.pem;
    include snippets/ssl.conf;
    include snippets/letsencrypt.conf;
    include snippets/cloudflare.conf;
    include snippets/gzip.conf;
    
    #include snippets/phpmyadmin.conf;
    #include snippets/magentoadmin.conf;    

    
	location / {
	    proxy_pass http://127.0.0.1:6081;
	    proxy_set_header X-Real-IP  $remote_addr;
	    proxy_set_header X-Forwarded-For $proxy_add_x_forwarded_for;
	    proxy_set_header X-Forwarded-Proto https;
	   	proxy_set_header X-Forwarded-Port 443;
 	   	proxy_set_header Host $host;
        fastcgi_buffers 16 16k;
		fastcgi_buffer_size 32k;
		proxy_buffer_size 128k;
		proxy_buffers 4 256k;
		proxy_busy_buffers_size 256k;
    }    
    
    
    access_log /var/log/nginx/mydomain.com-access.log;
    error_log /var/log/nginx/mydomain.com-error.log;


}

server {
	listen 127.0.0.1:8080;
    server_name mydomain.com www.mydomain.com;

   	set $MAGE_ROOT /var/www/html/mydomain.com;
   	set $MAGE_MODE production; # or developer
    
    include /var/www/html/mydomain.com/nginx.conf.sample;
    

}