GBPUSD buy +12pips (20 Nov 2013, 4.45pm GMT+8)

By | November 20, 2013

Saw the cable test the 200 EMA (red line) on the 15min 3 times, with the third time a bounce off the daily pivot. Very strong support.

Then I zoomed into the 5min chart and waiting for price to test the 20 EMA twice (blue line).

I went long with a target of the daily R1. Entry price 1.61338

GBPUSD buy 15min chart (20 Nov 2013, 4

15min chart

5min chart

5min chart

Update 5:20pm GMT+8

Trade hit TP +12pips. Our TP was at the daily R1 (red line)

GBPUSD buy 5min chart TP +12pips (20 Nov 2013, 5.20pm)

 Look what happened after the trade hit TP at daily R1!

GBPUSD buy 5min chart after TP (20 Nov 2013, 5.20pm)

 

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