Hi guys, its your girl forex potatoe and its another week of opportunities.
January as been a pretty slow month for swing traders but here we have an opportunity to short GBPAUD, i am just took a short on this trade with my stop loss and take profit in appropriate places as with my tool.
GBPAUD has been in an uptrend and has encountered a solid resistance and its having problems going through it, this is the third time that its showing signs of weakness and we all know how third strong third touches can be. In addition to that we can see the Daily RSI is overbought and just crossed the 70% mark, a head and shoulders pattern together with a bearish engulfing candle stick are confluences that supported my sell decision
I am expecting GBPAUD to drop from this resistance and reverse all the way down.
Kindly hit the boost , leave a follow and let me know what you think of this idea in the comment section
January as been a pretty slow month for swing traders but here we have an opportunity to short GBPAUD, i am just took a short on this trade with my stop loss and take profit in appropriate places as with my tool.
GBPAUD has been in an uptrend and has encountered a solid resistance and its having problems going through it, this is the third time that its showing signs of weakness and we all know how third strong third touches can be. In addition to that we can see the Daily RSI is overbought and just crossed the 70% mark, a head and shoulders pattern together with a bearish engulfing candle stick are confluences that supported my sell decision
I am expecting GBPAUD to drop from this resistance and reverse all the way down.
Kindly hit the boost , leave a follow and let me know what you think of this idea in the comment section