ArcusFX
Short

GBPAUD broke out of consolidation. Looking for SHORTS

OANDA:GBPAUD   British Pound / Australian Dollar
Will be looking for shorts down to 1.84500 and will be monitoring reaction at the first supporting Trendline.

Could extend shorts further down to 1.82500.

- First must look for entry on pull back.
- Ideally price pulls back to retest consolidation zone entry @ - 1.85800 with a 60 pip risk. Just above pennant pattern that form.
- If price breaks back in to the consolidation it would invalidate the trade at this point.
- Entry could be a potential M formation or candle stick formation once we reach back up to the zone. (Safer Option)
- Sell Limit orders could be an option.

This is not a signal and your own analysis should be attached to any trade.
This is more of my trade journal I have here for free.
Trade active:
- Alot of volitility but one we reach 1.85 evens we can put stops to break evens.

- Extended Target could be 1.82500
Trade closed: stop reached

Comments

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