Bearish bias on GBPAUD
PAIR IN FOCUS: GBPAUD
ACTION: SHORT
This is a bearish trend continuation trade.
My bearish bias for GBPAUD from my previous analysis still remains. After price has reached and bounced up from my TP 1, it looks set to continue its bearish momentum to the lower bound of the long-term rising channel (TP Zone). Looking for a retrace into Fibonacci Retracement and support/resistance levels for a better R:R on this trade.
The Entry Zone, TP Zone and Stop Loss have been indicated on the chart.
ACTION: SHORT
This is a bearish trend continuation trade.
My bearish bias for GBPAUD from my previous analysis still remains. After price has reached and bounced up from my TP 1, it looks set to continue its bearish momentum to the lower bound of the long-term rising channel (TP Zone). Looking for a retrace into Fibonacci Retracement and support/resistance levels for a better R:R on this trade.
The Entry Zone, TP Zone and Stop Loss have been indicated on the chart.
Trade closed: target reached
TP Zone barely touched before shooting up to SL
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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.