GBPAUD - TRADE SET UP - FOLLOW UP
Updated
Trade set up is still in play.
Yesterday, price bounced off the lower level as anticipate(1.9616) and went as high as 1.9663 but not breaking the daily high of 1.9674. I got in manually at 1.9630 only to see my pips eroded as the NY session played out. I closed two trades at 10-12 pips in frustration.
Moral of the story: Take partials every time the market gives you $$$$$!!
Today: What can play out?
We are in Asian session now and anything goes, lol!
Liquidity sweep and bounce to our original targets or break of support heading to lower demand area. Either way, i'm ready to take either side.
Yesterday, price bounced off the lower level as anticipate(1.9616) and went as high as 1.9663 but not breaking the daily high of 1.9674. I got in manually at 1.9630 only to see my pips eroded as the NY session played out. I closed two trades at 10-12 pips in frustration.
Moral of the story: Take partials every time the market gives you $$$$$!!
Today: What can play out?
We are in Asian session now and anything goes, lol!
Liquidity sweep and bounce to our original targets or break of support heading to lower demand area. Either way, i'm ready to take either side.
Note
Price has broken the support level at 1.9605 and made a lower low.Looks like we will be looking for sells to the lower demand area at 1.9500.
If you are trading Asian session, a retest of the previous support may be a good entry for a sell. I'm revisiting around 5.30am London time. I took a few stabs at the buy(without confirmation) but there was no bounce and i closed for a small loss.
Such is life:)
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