GBPAUD - Resistance is close, sell signal soon
The GBPAUD has been down trending pretty strong over the past couple of weeks. We catch a large leg of the initial move down. We may get a chance to grab another leg. However, if resistance fails after my trade entry, I will reverse my position. Consolidation is not out of question for this pair.
My Plan: I will short the GBPAUD if/when the price reaches the top of the expanding channel/flag/triangle. As mentioned, if resistance fails, I will reverse my position.
I will update if this trade triggers.
My Plan: I will short the GBPAUD if/when the price reaches the top of the expanding channel/flag/triangle. As mentioned, if resistance fails, I will reverse my position.
I will update if this trade triggers.
Comentarios:
Strange; it looks like prices are at resistance, but they are not. I am not sure why the chart shot is skewed. Here is the actual chart:
Comentarios:
Sorry, forgot to post an update real quick. I was busy watching the EU for an entry. I entered this trade via a sell limit. Prices are marked on the chart:
