Today I want to show you long trade on GBPUSD. At the beginning of London session price went down and broke support at 1.5330. This was false break. Price then went up. I moved on 5m chart.
Waited for 123 pattern, Stochastics was crossed up already. Support was retested again. We finally got also 5/8 EMA cross and I entered when first green candle closed after support was retested. This was counter trend trade, so I’m not looking for more than 38 pips on this trade. Pay attention if today’s daily candle will finish as a false break, so we will get fakey setup on daily chart.