GBPAUD broke out of consolidation. Looking for SHORTS
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.
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
- 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