Long GBPAUD RR 1:2.63 & RR 1:3.47
Reasons to enter
1. Price bounce back upwards after touching the EMA 21 in H3 timeframe.
2. Candle wick retested the black trendline and obeys it, hence a bounce on the trendline can be seen.
3. A retracement towards the 38.2% was met, and now aiming back upwards of -27.2% or even -61.8% (TP)
Trade 1 (RR 1:2.63)
EP: 1.6530
TP 1: 1.6667 (139 pips)
SL : 1.6475 (53 pips)
Trade 2 (RR 1:3.47)
EP: 1.6530
TP 2: 1.6750 (222 pips)
SL 2: 1.6464 (64 pips)
1. Price bounce back upwards after touching the EMA 21 in H3 timeframe.
2. Candle wick retested the black trendline and obeys it, hence a bounce on the trendline can be seen.
3. A retracement towards the 38.2% was met, and now aiming back upwards of -27.2% or even -61.8% (TP)
Trade 1 (RR 1:2.63)
EP: 1.6530
TP 1: 1.6667 (139 pips)
SL : 1.6475 (53 pips)
Trade 2 (RR 1:3.47)
EP: 1.6530
TP 2: 1.6750 (222 pips)
SL 2: 1.6464 (64 pips)
Trade closed: stop reached:
Stopped was reached as sl was too tight. Would post better trade setup for next time! :X