GBPAUD Long Position Execution
Since JAN 2023 GPBAUD in monthly interval has been bullish taking price from respectively 1.61378 to monthly candle close of 1.699694 rising to 1.951938 which I'm considering as a upswing from recent LH ( Lower high ) 2.012610 . Recent data shows previous Monthly candle close Bearish engulfing candle stick in a upswing favouring the decision of a Long positions of 0.73% Risk at 1.942904 to first target 7.61% Reward at 1.779800 . Second anticipated target is at 1.697508 at 11.89% Reward at 0.73% Risk . Third final anticipated target is at 1.607813 at 16.55% Reward at 0.73% Risk .
Comment:
The title of this position is 'short " . . . I repeat , error on title pay careful attention to the idea description updated earlier .
Comment:
Re-entry @ 1.923830 short
Trade active:
Price parameters current status are good
Trade active:
At the calm , drifting , directionless , choppy market I still hold as price continually moves at an relaxed drifting marketing . I am however expecting an overwhelming activity to power explosions characteristics of a trading market favouring the Bears /sellers . I have a threshold by which I judge he movement respectively around price 1.91544 to 1.90004 . The market trades beyond a zone before returning to the one from the other side to confirm the importance of a zone. Once the markets trades through price 1,90004 confirming it precisely on this price il be considering high probability sets again .
Comment:
Fortunately I arrive at the platform while price is reaching a entry price level 1.91544 where I am considering to go short again . at that price level mentioned on my previous entry dated 1 Nov 1.90004 price traded returning to 1.91544 confirming high probability set up .
Trade active:
Price trade confirmed a high probability price set and now is about 57 pips to 1.90004
Comment:
Price is ranging from last week on same price levels
Comment:
Finally after long wait price finally decided to trade according to the sellers , since I missed the entry on this ill be considering entry option after price trades through 1.89715 with a consistent bearish close on hat pull back ill be looking for high probability set ups for short positions with targets mentioned on date entry 14 October 2023.
Comment:
Finally price has made movement to favouring indicated price from a weekly range to the same price level , Currently taking short positions for TP1