Estd 2018
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GBP/AUD SHORT ANALYSIS

GBP/AUD REACHED WEEKLY RESISTANCE AND LOOKING GOOD FOR SHORT WITH NICE 1:15 RR


REASON FOR SHORTING :-

* PRICE MADE A STRONG IMPULSIVE MOVE

*AFTER AN IMPULSIVE MOVE, MARKET NEEDS A RETRACEMENT.

****** REST IT COMES TO EXECUTION*****

THIS IS WHAT AM LOOKING AT A BIG MOVE DOWN AROUND 550 PIPS.

I WILL BE UPDATING THIS BLOG POST AS TIME GOES BY.

TILL THEN HAVE A GREAT WEEK EVERYONE.

****UPDATE ****

PRICE IS MELTING DOWN SMOOTHLY.

STOPS AT BREAKEVEN, HOLDING STRONG.


I AM TARGETING LOWS AROUND 1.9200 FOR OUR TAKE PROFIT LEVELS.


AFTER THAT WE WILL SEE IF WE CAN BREAK 1.9200 OR NOT.

FAILED TO DO SO WILL GIVE A LONG OPPORTUNITY FROM 1.9200 WITH THE MARKET OF THE RECENT HIGHS.


IT’S ALL ABOUT FOLLOWING THE PAIR AND LOOK OUT FOR PRICE ACTION.

*****UPDATE*****


PRICE HIT OUR TAKE PROFIT ; BOTTOMED OUT AND THEN WENT BACK UP TO THE PREVIOUS HIGH TO COMPLETE ANOTHER RETRACEMENT MOVE.

I HOPE YOU GUYS TOOK ADVANTAGE OF THIS ANALYSIS NOT ONLY IN MONETARY ASPECT BUT IN THE LEARNING CURVE AS WELL.

HAVE A GREAT WEEK EVERYONE.

UNTILL NEXT TIME 😉