GBPAUD - Break of upper channel
This signal from TK looked good. A break of the upper channel and growing positivity about post-Brexit sterling, made this look like a good bet.
Price broke the upper channel, but I waited for confirmation of previous resistance becoming support before entering and with a better R/R than Tom's signal.
As this trade was made prior to the NFP announcement, I also carefully managed my SL to lock in earnings. Unfortunately this back fired on this trade, because price spiked during the NFP creating a bullish pinbar on the 4hr, but triggering my SL and closing the trade early for a much lower profit.
There may will be other opportunities to enter this pair in the days ahead.
Price broke the upper channel, but I waited for confirmation of previous resistance becoming support before entering and with a better R/R than Tom's signal.
As this trade was made prior to the NFP announcement, I also carefully managed my SL to lock in earnings. Unfortunately this back fired on this trade, because price spiked during the NFP creating a bullish pinbar on the 4hr, but triggering my SL and closing the trade early for a much lower profit.
There may will be other opportunities to enter this pair in the days ahead.
Comment:
Link to Tom's original idea...
Trade closed: stop reached:
4Hr Chart
