GBP/AUD Trend Continuation Trade
We can clearly see with moving averages and trend lines that GBP/AUD is in a strong bear trend.
Currently, price is at critical support. If we can clear this level the next major support level is quite a bit away. We have a minor level at 1.72-- to 1.73-- and the next major level (as I define them) is at 1.445-- area.
This seems to be a good short if price action confirms that there is enough momentum to break this current level.
I will be waiting for a valid signal (in this case a candle pattern) to enter this trade.
Currently, price is at critical support. If we can clear this level the next major support level is quite a bit away. We have a minor level at 1.72-- to 1.73-- and the next major level (as I define them) is at 1.445-- area.
This seems to be a good short if price action confirms that there is enough momentum to break this current level.
I will be waiting for a valid signal (in this case a candle pattern) to enter this trade.
Trade active
We are now in a couple hundred or more pips profit. Will be looking at minor support and resistance levels to break before selling more.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.