GBPAUD short setup
Updated
On a daily time frame, GA has formed H&S and it's in a downtrend, so overall bearish setups are preferred.
Price is now on a very good position for sells, we have:
1. Clear downtrend
2. Retesting a structure
3. 4H 50EMA
4. 50% fibs
5. Bigger pattern in play
All I want so see is 30m wedge or pennant just so price can move sideways to touch the trend line, and ofc this can be a sign for a rejection from this level.
Price is now on a very good position for sells, we have:
1. Clear downtrend
2. Retesting a structure
3. 4H 50EMA
4. 50% fibs
5. Bigger pattern in play
All I want so see is 30m wedge or pennant just so price can move sideways to touch the trend line, and ofc this can be a sign for a rejection from this level.
Trade active
So, I tweaked the chart a bit, because it seems like price is not respecting 4H 50EMA fully as seen in the last leg, but there is already a 1H shooting star and the 4H candle just closed and it formed again a beautiful Shooting star at the level of S/R, so hopefully we see a pattern here and a drop down to 1.720Trade active
Wow, what a reaction from the last 4H shooting star :0. I decided to close the trade at 1.7310 to secure some profits, because I saw x3 1H rejection candles, then I was watching the price live and made entry right after the closure of the 1H shooting star (shown on the chart below). Didn't had time to post an update about it, cuz everything happened so fast...
Now halved my SL, so its only -0.5% now.
Trade closed: stop reached
Sorry for the late update...Sp, GA reversed and closed my second trade at BE, I haven't made any positions since then and it will stay that way for now.
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