GBPAUD - SHORT - 5 TO 1 WIN VS RISK - POTENTIAL TRADE
Hello all
With GBPNZD moving lower (gradually on a related trade) I am looking for AUD strength too. I think the recent break out lower on AUDUSD is a bear trap and in turn will go higher. In turn, I expect GBPAUD to go lower.
On reviewing the price action, It has printed a Bearish Butterfly pattern on the 1 hour chart at a good level and in turn I do expect this to start to cycle lower. it has just printed a 1 our engulfing bearish candle
Quite a tight stop and I have reduced my risk due to this so instead of having my stop above the swing high for 1%, I have placed it as indicated - same lot size however only risking 0.5%
I can still win the same however I'm reducing my risk by 50% of the normal capital amount. 35 pip instead of 70 ish pips.
If the low of the 1hour candle is broken, I will be in the trade
Lets see how it plays out.
thanks for looking
Duncanforex.com coming soon
With GBPNZD moving lower (gradually on a related trade) I am looking for AUD strength too. I think the recent break out lower on AUDUSD is a bear trap and in turn will go higher. In turn, I expect GBPAUD to go lower.
On reviewing the price action, It has printed a Bearish Butterfly pattern on the 1 hour chart at a good level and in turn I do expect this to start to cycle lower. it has just printed a 1 our engulfing bearish candle
Quite a tight stop and I have reduced my risk due to this so instead of having my stop above the swing high for 1%, I have placed it as indicated - same lot size however only risking 0.5%
I can still win the same however I'm reducing my risk by 50% of the normal capital amount. 35 pip instead of 70 ish pips.
If the low of the 1hour candle is broken, I will be in the trade
Lets see how it plays out.
thanks for looking
Duncanforex.com coming soon
Trade active:
Hi all, stop moved to 1.8670 and I am expecting another movement lower
Trade active:
Trade live - got stopped out on first entry as moved stop loss down (doh), re-entered on bearish engulfing at 1.8628 - stop loss is at 1.8590 due to AUD news coming out over night
Trade active:
hello all, trade is still live and going well , stop loss is now moved to entry point
Trade active:
Trade continues to go lower - just getting in at 1am BST on bearish engulfing candle at 1.8560 to add to my position
Trade closed manually:
Hi all trade closed at 1.8426 for a near 4 to 1 win
