GBPAUD - TRADE SET UP, BOUNCE OFF OF 15/8/23 DEMAND AREA
Updated
Traders, please see most recent published GA set up for detailed explanation.
Trade closed manually
Traders, remember this, the market giveth and the market taketh.Nobody ever went broke taking profits.
My BUY LIMIT at 1.9500 didn't trigger and i entered two positions manually at 1.9503 and 1.9507 at approximately 01:15 Asian session.
The market hit 1.9588(+85 pips) and began to sell off.
My bias was to the upside but price action is telling a different story.
Be ready to adapt to any situation.
Be water, be fluid, be flexible, do not have bias, read the price action story.
Trade active
Entered BUY at 1.9489 with small stop loss after LIQUIDITY SWEEP. This is risky as the was a break of support and can easily retest and drop. Watching how the 07:00 candle reacts. Comment
+16 pips but 07:00 candle struggling to break 1.9525.One trade brought to break-even, the other has an 11 pip stop.
Taking small pips when going against trend is recommended.
Trade active
Comment
TP 1 Hit, 65 pips (1.9555)TP 2 - 1.9585
TP 3 - 1.9615
Trade closed manually
Closed all positions +73 pips(1.9563)Probably going higher(liquidity sweep above 1.9635), however caution with the buys as we are still in a downtrend.
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