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British Pound / Australian Dollar

GBPAUD - TRADE SET UP ACTIVE

By DIONNG
Updated
Entered BUY 0.25 1.95943 (not great entry - FOMO)
Entered BUY 0.75 1.95865
Entered BUY 0.50 1.95845
Stops below 1.9570
Comment
Traders, we have difficult trading conditions for this pair. Every attempt to go higher has been met with a LIQUIDITY SWEEP trapping buyers with tight stop losses. This is how the BIG BOYS accumulate positions(CONSOLIDATION), before big moves. We are technically in a downtrend until the break of 1.9680. If the uptrend is established again we may test the highs at 1.9960 or the FINAL LIQUIDITY SWEEP may occur below 1.9540 where we will be targeting the next demand zone for a BUY(1.9500).
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Comment
This is how i got "trapped", "psyched out" of a winning trade.
Does this look familiar?
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TRADE IDEA - GBPAUD
BUY from DEMAND LEVEL(15th August) after CONFIRMATION
STOP - 20-30 pips
Target 196.30-196.50
Beyond Technical AnalysisChart PatternsTrend Analysis
DIONNG

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