False break towards downside followed by rally – GBPUSD currency trading

The trading range today was 15178 and 15147. The market broke towards the downside and I entered short. However, it was a false break as the market then moved upwards to hit my stop..  ugh, 30 pip loss!

However, since the market then hit the top range, I thought I’d enter long since the move was so strong. It shot up to hit my 30 pip target leaving me with a net zero day!

However, the market continued to rally.. making spectacular gains of almost 180 pips! I need a system which could capture this sort of movement!

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Category: money