GBPAUD 8hr long
Updated
Reasons for entry long:
1. We have experienced a significant Retracement to a 78.6-88.6 fib level.
2. I have identified a good level of latent orders which has started to create a bounce.
3. 50% bounce of most recent drop is feasible.
Money management rules:
A. Risk no more that 1% of account on the trade
B. all off at target
1. We have experienced a significant Retracement to a 78.6-88.6 fib level.
2. I have identified a good level of latent orders which has started to create a bounce.
3. 50% bounce of most recent drop is feasible.
Money management rules:
A. Risk no more that 1% of account on the trade
B. all off at target
Trade closed: target reached
achieved target of 2.66% on Nov 20th.
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