Austin2098

Austin2098

All GBP pairs collapsing, going in blind based mainly on correlation. TP is best case scenario but watching landmines.

Austin2098

V formation held earlier. Test 1 should be completed soon (The circled area) which is higher highs and higher lows compared to the consolidation earlier which confirmed our V-formation. Going with a tighter stop loss than normal as from my strength numbers its a weak vs neutral pair so a spike should not be likely. Test 2 should occur lower than test 1 however as...

Austin2098 Updated 

Just entered. Couldn't give up the massive rejection across the two pairs

Austin2098 Updated 

Correlation between GBPJPY and GBPCHF. GBPJPY has formed a V which is holding, awaiting test 1 which should be higher highs and higher lows while still being under the V. When that rolls over and creates a new low, I shall trade GBPCHF as then the risk reward will be higher than in gbpjpy. If test 1 finishes high ill enter however if it is still quite far from a...

Austin2098 Updated 

Inability to make higher highs, although higher lows are happening. Relying on the probes/ rejection from above to catapult me towards the bottom of the range or at least to the most recent low

Austin2098 Updated 

Definitely over trading however, really really liked how this came up and still respected the v formation (for now) got stopped out of GBPNZD but it was half the size of my normal trade so at least the loss was small. Seems like this is a dash of evil. Raised prices to entice buyers with a drop right back should occur

Austin2098 Updated 

Entire world is interested in selling pounds and buying the nzd, seeing that it cant make a higher high but also knowing a spike could occur as there are not enough buyers in order to perform a sell. Wider stop loss aiming for 1:1 in this trade or at least a breakeven

Austin2098 Updated 

V formation held which was confirmed by the consolidation after wards. Just created a higher high that is now being rejected which means our test 1 is officially in progress. Chose to enter now as if the first test ends up being lower than this huge probe I would not get a good price to sell so selling now with a stop loss larger than id like but at least I will...

Austin2098 Updated 

V formation from previous day still holding. Not too sure if a test 2 will occur but if so, getting a better price to short it would be wonderful.

Austin2098 Updated 

V Formation on the 1Hr chart, went to 15min for a bit more precision. Waiting for 2nd test to complete before going long to most recent high which is towards the top of the range

Austin2098 Updated 

V-Formation holding, ie test 1 in progress. Other pairs have collapsed already

Austin2098 Updated 

Correlation with a few of the other GBP pairs. This pair was not my top pick for entry however the buyers came in quite a bit slower than the other pairs that it was correlating with. Have enough buyers now to sell too. Will be trying to take it down to recent lows

Austin2098 Updated 

Similar story to AUD/CHF however we are at the top of the range on the 1H chart with quite a lot of buyers prior to entering the trade and therefore since CAD has some strength in the charts I noticed we have enough buyers willing to pay such high prices and thus we have enough demand for the sell to happen

Austin2098

Already entered the trade but based on the inability to make a higher high and using the support and resistance of both the daily and 4H charts, I see that we have created a V- Formation with a struggling test phase and therefore I am shorting for the next couple of hours and possibly entering for a buy on the 4H chart when it reaches support