Counter-trend setup for GBPAUD
PAIR IN FOCUS: GBPAUD
ACTION: SHORT
GBPAUD has been moving in an upward trend channel and yet again touched the upper bound of the channel. This is a counter-trend trade, aiming to provide a good R:R ratio. Since this is a GBP pair, the float has to be larger compared to other currency pairs.
TP 1 is the short-term target, while TP 2 at the lower bound will be the medium-term target.
TP 1, TP 2 and Stop Loss have been indicated on the chart.
ACTION: SHORT
GBPAUD has been moving in an upward trend channel and yet again touched the upper bound of the channel. This is a counter-trend trade, aiming to provide a good R:R ratio. Since this is a GBP pair, the float has to be larger compared to other currency pairs.
TP 1 is the short-term target, while TP 2 at the lower bound will be the medium-term target.
TP 1, TP 2 and Stop Loss have been indicated on the chart.
Note
TP 1 HIT!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.