Currently short on GBPAUD.
Confluences for short:
Big 50% Fibo
76.4% Fibo
Round Number (Psych number)
Trendline Cross
Alignment across AUD pairs
Position been in drawdown for a day, looking to see if London session lows are broken for a continued movement to the downside. If there is a clean break of these lows I will enter another short position. Overall Target Just above the support created before the last leg up at 1.905
Depending on how the daily candle closes (23/05/24), will affect my overall target. If there is a heavy volume close with little to no wick at the bottom, I will extend overall target to the low of 1.8915. However partials to be taken along the way.
This is all if the Pound continues to fall against the AUD.
Catch you later traders ▲
Confluences for short:
Big 50% Fibo
76.4% Fibo
Round Number (Psych number)
Trendline Cross
Alignment across AUD pairs
Position been in drawdown for a day, looking to see if London session lows are broken for a continued movement to the downside. If there is a clean break of these lows I will enter another short position. Overall Target Just above the support created before the last leg up at 1.905
Depending on how the daily candle closes (23/05/24), will affect my overall target. If there is a heavy volume close with little to no wick at the bottom, I will extend overall target to the low of 1.8915. However partials to be taken along the way.
This is all if the Pound continues to fall against the AUD.
Catch you later traders ▲