GBPUSD ‘Resistance Broken’ Setup +53 pips
Setup: Resistance Broken
Order: Long Market Order (1.2849)
Initial Risk:Reward: 1.32
After an alert on a BROKEN RESISTANCE, I went long at 1.2849. Later closed the trade at 1.2902 (Take-profit hit). When the prices break a resistance, and there’s strength before, it means the smart money is expecting higher prices, and that’s why this setup works very well. The momentum was strong as price skyrocketed and I decided to go. Normally you should wait for that candle that fully broke the resistance hours later. It would have been less risky.
Disclaimer: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, these trades were taken by our proprietary robot that takes both positive and negative trades in a simulated setting for purely educational purposes.