Gbpcad back into trend after false breakout

28 בספט׳ 2015

A very nice setup here, trader. We had a series of impulses in downward direction. This is the definition of a trend. then we had a most resent HL violation to the downside. This is the defenition of the sign of reversal. And instead of continueing moving upward installing other upward impulses priceaction makes a new structure low. This is the classic defenition of a false breakout. It is very likely for down trend to resume. Moreover, if you look close at priceaction you would notice a cypher pattern. Good luck.