Follow the trend! (GBPAUD analysis)
Updated
Hi guys,
few days ago we managed to get more than a hundred pips from shorting this pair. Now the situation has changed, since we came back to previous structure and started consolidating right at the trendline retest. Besides, the zone we're on is a daily structure that could push price up, according to the major trend.
The RSI divergence down on the bottom additionally confirm our view, along with the psychological number 1,6500.
I'm buying with stops below the lows, and targets as illustrated above.
If you want to ask questions or share your view, feel free to comment beneath.
Otherwise, see you in the next chart!
few days ago we managed to get more than a hundred pips from shorting this pair. Now the situation has changed, since we came back to previous structure and started consolidating right at the trendline retest. Besides, the zone we're on is a daily structure that could push price up, according to the major trend.
The RSI divergence down on the bottom additionally confirm our view, along with the psychological number 1,6500.
I'm buying with stops below the lows, and targets as illustrated above.
If you want to ask questions or share your view, feel free to comment beneath.
Otherwise, see you in the next chart!
Trade closed: target reached
First target hit! Stops moved to breakeven now.Trade closed: target reached
Second target hit! +240 pips risking just 40.
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