GBPAUD - Will We See This Pair Rise After CPI?
Updated
Analysis:
*THIS SETUP WAS SHARED IN OUR VIP GROUP YESTERDAY*
Comment:
We have a strong reasons to be bullish on this pair, hence why we are. The CPI figures coming out for the AUD could give us the catalyst we need for this pair to head higher.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Stay Safe - The JPI Team
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
*THIS SETUP WAS SHARED IN OUR VIP GROUP YESTERDAY*
- Strong upwards trend (bullish confluence factor)
- Retest of a key level (bullish confluence factor)
- 50% fib retracement level touch (bullish confluence factor)
- Upwards trendline touch (bullish confluence factor)
- GBP 2nd strongest major currency (bullish confluence factor)
- AUD 3rd weakest major currency (bullish confluence factor)
- 24K long position increase for the GBP (bullish confluence factor)
- 5K long position decrease for the AUD (bullish confluence factor)
Comment:
We have a strong reasons to be bullish on this pair, hence why we are. The CPI figures coming out for the AUD could give us the catalyst we need for this pair to head higher.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Stay Safe - The JPI Team
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Note
With our entry requirements met and our order being filled we are now long, waiting for CPI to come out for the AUD to potentially help out our trade and push price higher.Trade closed: target reached
Trade Closed
(+1.96R) Made
After Trade Comments:
This trade was a great one to catch. We went into very little drawdown before almost shooting straight up to our take profit, however we just missed it before price then slightly reverse on us. We stuck to our plan, trusted our edge and let this trade continue just as you should too. Price ended up smashing straight through our take profit, just as we predicted. This shows the importance of not closing a trade early and letting your edge play out. When you did your analysis you put your take profit at that level for a reason, so leave it alone. If you always close a trade early then you're leaving so much profit on the table. Trust your plan and be patient. Patience is key in trading.
Stay Safe - The JPI Team
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.