GBPAUD to mitigate before going higher?
As you may know, an easy setup I trade involves price breaking previous levels which is the Intent to go higher (in this case). However, such a move is not sustainable before clearing out open short positions in order to go higher in profit. Therefore, price should return to the zone indicated before going higher. A risk entry would be at the zone indicated however I recommend waiting for a reversal on LTF to avoid liquidity grabs. GL
Note
After clearing some orders, price is rushing lower to fill the imbalance in the market. Waiting.Note
Nicely filled if you took the risk entry! From this point onwards would be good to monitor the trade as this trading week is expected to be particularly volatile. Always take partials. GLNote
UPDATE: As you can see boys & girls, all going to plan (unless you took the risk entry lol, price is unstoppable to reach the target!Note
TP smashed! So happy about this one, I love GA
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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.