Just sharing a position I have just taken on GBPAUD long.
Price has broken out of the descending triangle and has managed to hold momentum outside of this pattern. It has had a lot of volume behind it so there WILL be a retracement in price - Not to worry though.
GBP is strong across a lot of currencies, and AUD weaker across the pairs I follow. Also there is no...
If there is another strong bullish candle then this can be a good breakout trade! It will be a good long position with a potential risk to reward of 1:2.
The EMA's are also showing bullish signals which gives me a good confluences.
As a bonus we could also enter another long position at the reversal.
Let's see whats what happens at the end of Friday.
MNK is dead or almost dead. Often times there is a dead cat bounce in stocks like these, as 'everybody' gets the same idea to throw some money at it.
This is a high risk scenario but with potentially good risk to reward ratios.
Disclaimers : I've clearly said this is high risk. This not advice to trade in securities. I am simply showing what may happen from...