RedEagleTrading

GBP/AUD short setup on a Cap

Short
OANDA:GBPAUD   British Pound / Australian Dollar
This trade is based on a Cap that can be seen best on the 1H. My prediction/Setup would be an entry at 1.66770 with my stop loss at 1.67477. My first Target will be at 1.65724 and my second target at 1.63601. Once My first target is hit i will move to Break even and and then possibly start locking in pips depending on how the market is reacting.

Comments

I took 30 pips on this trade and then got stopped out at break even for my second entry.
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