GBPAUD - playing with Fib arcs
Updated
And only with micros for this time, just for educational purpose :) I didn't set order yet, will see how it will open on Monday.
On small scale, pair was rejected at 0.382 and is heading south. It broke 0.236 arc level, which could be good entry point. SL at 80 pips away should give it enough room to breath, if it won't just flush. Profit taking should be at next arc, but I will for sure take some off the table at T1, which is previous support, 1.272 extension of last drop from high and 0.382 level of the whole rise. Next profit taking is yet to be defined.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
On small scale, pair was rejected at 0.382 and is heading south. It broke 0.236 arc level, which could be good entry point. SL at 80 pips away should give it enough room to breath, if it won't just flush. Profit taking should be at next arc, but I will for sure take some off the table at T1, which is previous support, 1.272 extension of last drop from high and 0.382 level of the whole rise. Next profit taking is yet to be defined.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Note
Trade set up as:Order cancelled
I don't like it anymore.Note
Too bad, would play out just nice. Also stop loss was placed OK.
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