forexTrdr GBPAUD - RESISTANCE MEETS DESCENDING CHANNEL
Morning traders,
Waking up to Thursday morning ECB day with a great short setup in British Pound versus Australian dollar. What we have is a descending channel being touched at the same time as the pair meets a resistance level to the upside around the psychological price point of 1.79. Compounding the trade is that as this is occuring the pair is reaching overbought levels on RSI indicator and Stochastic which is crossing over pointing to a move to the downside. Given then clear descending channel we have highlighted on our trading view chart we can see upside on this short of up to 250 pips into the high 1.76 area.
Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Or if you want a free one month signals trial with us please get in touch.
Good luck trading
from the Team at forexTrdr
Waking up to Thursday morning ECB day with a great short setup in British Pound versus Australian dollar. What we have is a descending channel being touched at the same time as the pair meets a resistance level to the upside around the psychological price point of 1.79. Compounding the trade is that as this is occuring the pair is reaching overbought levels on RSI indicator and Stochastic which is crossing over pointing to a move to the downside. Given then clear descending channel we have highlighted on our trading view chart we can see upside on this short of up to 250 pips into the high 1.76 area.
Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Or if you want a free one month signals trial with us please get in touch.
Good luck trading
from the Team at forexTrdr
