GBP/AUD - Short 100+ Pips

An opportunity has presented itself to ride GBP/AUD short.

As price breaks current level, they will go down until they find a strong support.

GBP/AUD is currently bearish in long term until oversold.

Preserving your capital comes first. Next comes growing it.

Note

This wasn't a high probability move but simply an idea of a possible bearish continuation move. I shouldn't have posted it.

Note

If prices continues to fail to establish a support for further up movement, we can expect a bearish trend continuation downwards until the next support. For this move to be active, the daily candlestick must not close any higher than 1.7775 but rather form a doji or anything close to it.

Note

Possible continuation as support line becomes resistence.

Better entry would be with GBP/CAD.

Trade active

Note

Trade is canceled if the prices aren't able to break back down the 50 ema on the 30 min timeframe.

Order cancelled

Trading cancelled since price hit last important resistance lines and moved up more than expected. The bearish move has been weakened by this strong up move and this trade is not as much probable anymore until further good signs.

Note

After the big spike, as the prices recovered back down, had you entered once you saw an imminent break below is coming then your TP would have been hit by now. A good price to re-enter would've been at 1.7665. I have missed this move as well.

Note

GBP/AUD just hit the 200 ema, another entry possibility to short this pair long term has opened:

Note

Simply wait for the confirmation of the move lower, and enter accordingly.

Note

Possibility of continuation back down if the resistence holds.

MoolahMaker

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MoolahMaker