GbpUsd - Pulsar Indi
GbpUsd made a spike down.
Activity declines quickly below Average (120 ticks/minute). Hence, we can identify this move as a false breakout or manipulation price to catch some stoploss.
The move is more likely to reverse from here.
We could enter Long as Pulsar is back to normal activity and market manage to break above 1.39 area
Pulsar Indicator :
Pulsar helps identify price movement relative to market activity.
The aim is to distinguish between a new price trend that is likely to last, and a sudden movement that is likely to quickly turn around in the opposite direction.
Strong price trend versus Stoploss hunting
Pulsar alerts when ticks/minute 'activity' crosses ticks parameters (default value '250')
Use Indi on timeframe 1min
Check out blog and browse 'Pulsar' to see example