GBPAUD - SHORT TO MID - 1.77 (TECHNICAL ANALYSIS)
Updated
Hello tradingviewers,
-This is a pure technical analysis on this forex pair GBP/AUD (British Pound/Australian Dollar) we have been on a downtrend for quite some time on this pair...and I don't see it moving back up for a long time until we bottom lower.
-On this short trade we can see this wedge forming, I am hoping this will be respected, if this pair moves bullish past 1.81 area, it will than be invalidated although we will trust the small resistance of 1.82 to hold it down if the market seeks to stop hunt .
Other than that, let us leave the market do what it has to do and hope for a profit gain almost 300 pips move ! (Profit taking @ ~1.77500)
Thank you for looking into my technical analysis I hope you a happy & safe trading ... My GOAL is to help people make money & show AUTHENTIC + TRANSPARENT track record of my success/failures in the forex market and stock market.
PEACE OUT ! MUCH LOVE !
-This is a pure technical analysis on this forex pair GBP/AUD (British Pound/Australian Dollar) we have been on a downtrend for quite some time on this pair...and I don't see it moving back up for a long time until we bottom lower.
-On this short trade we can see this wedge forming, I am hoping this will be respected, if this pair moves bullish past 1.81 area, it will than be invalidated although we will trust the small resistance of 1.82 to hold it down if the market seeks to stop hunt .
Other than that, let us leave the market do what it has to do and hope for a profit gain almost 300 pips move ! (Profit taking @ ~1.77500)
Thank you for looking into my technical analysis I hope you a happy & safe trading ... My GOAL is to help people make money & show AUTHENTIC + TRANSPARENT track record of my success/failures in the forex market and stock market.
PEACE OUT ! MUCH LOVE !
Note
I have exited and close my trade for a LOSS of ~65 pips at price 1.80830.I am no longer interested in this trade since it does not seem to want to follow my technical analysis in other words the downward trendline has been broken and I believe it will probably squeeze some shorts for a bit but to manage my risk and positions that I added in the past few days, I am required to close it now ... if you continue to stay on this trade until the original stop loss is hit, please do practice proper risk management.
PEACE OUT & MUCH LOVE !
-DMJ
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