GBPAUD: Moving Strong Into Strong Resistance
Updated
Good Afternoon Everyone,
we are looking at the GBPAUD chart on a daily time frame right now. I was short this pair last week when price formed the first high with divergence. It was clear that there will be a pullback, but i was not sure how high it will go. Honestly it was way too high. Price broke my trading expected structure and run straight up with a new high, sitting right now in a huge resistance area. I do not really believe in this move, could be only another retest and maybe we see price tomorrow coming down again. Just wanted to share this chart and lets keep an eye on this...
we are looking at the GBPAUD chart on a daily time frame right now. I was short this pair last week when price formed the first high with divergence. It was clear that there will be a pullback, but i was not sure how high it will go. Honestly it was way too high. Price broke my trading expected structure and run straight up with a new high, sitting right now in a huge resistance area. I do not really believe in this move, could be only another retest and maybe we see price tomorrow coming down again. Just wanted to share this chart and lets keep an eye on this...
Comment
Price is respecting the resistance. Lets see how the daily will close today.Order cancelled
Broke and retested resistance now acting as support. Patience is key. Trade less earn more.Disclaimer
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