Hello all
With GBPNZD moving lower (gradually on a related trade) I am looking for AUD strength too. I think the recent break out lower on AUDUSD is a bear trap and in turn will go higher. In turn, I expect GBPAUD to go lower.
On reviewing the price action, It has printed a Bearish Butterfly pattern on the 1 hour chart at a good level and in turn I do expect this to start to cycle lower. it has just printed a 1 our engulfing bearish candle
Quite a tight stop and I have reduced my risk due to this so instead of having my stop above the swing high for 1%, I have placed it as indicated - same lot size however only risking 0.5%
I can still win the same however I'm reducing my risk by 50% of the normal capital amount. 35 pip instead of 70 ish pips.
If the low of the 1hour candle is broken, I will be in the trade
Lets see how it plays out.
thanks for looking
Duncanforex.com coming soon
With GBPNZD moving lower (gradually on a related trade) I am looking for AUD strength too. I think the recent break out lower on AUDUSD is a bear trap and in turn will go higher. In turn, I expect GBPAUD to go lower.
On reviewing the price action, It has printed a Bearish Butterfly pattern on the 1 hour chart at a good level and in turn I do expect this to start to cycle lower. it has just printed a 1 our engulfing bearish candle
Quite a tight stop and I have reduced my risk due to this so instead of having my stop above the swing high for 1%, I have placed it as indicated - same lot size however only risking 0.5%
I can still win the same however I'm reducing my risk by 50% of the normal capital amount. 35 pip instead of 70 ish pips.
If the low of the 1hour candle is broken, I will be in the trade
Lets see how it plays out.
thanks for looking
Duncanforex.com coming soon
Trade active
Hi all, stop moved to 1.8670 and I am expecting another movement lowerTrade active
Trade live - got stopped out on first entry as moved stop loss down (doh), re-entered on bearish engulfing at 1.8628 - stop loss is at 1.8590 due to AUD news coming out over nightTrade active
hello all, trade is still live and going well , stop loss is now moved to entry pointTrade active
Trade continues to go lower - just getting in at 1am BST on bearish engulfing candle at 1.8560 to add to my positionTrade closed manually
Hi all trade closed at 1.8426 for a near 4 to 1 win
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Related publications
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.