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fxsurgeon1
May 31, 2021 11:03 AM

GBPAUD to mitigate before going higher? Long

British Pound/Australian DollarFXCM

Description

As you may know, an easy setup I trade involves price breaking previous levels which is the Intent to go higher (in this case). However, such a move is not sustainable before clearing out open short positions in order to go higher in profit. Therefore, price should return to the zone indicated before going higher. A risk entry would be at the zone indicated however I recommend waiting for a reversal on LTF to avoid liquidity grabs. GL

Comment

After clearing some orders, price is rushing lower to fill the imbalance in the market. Waiting.

Comment

Nicely filled if you took the risk entry! From this point onwards would be good to monitor the trade as this trading week is expected to be particularly volatile. Always take partials. GL

Comment

UPDATE: As you can see boys & girls, all going to plan (unless you took the risk entry lol, price is unstoppable to reach the target!

Comment

TP smashed! So happy about this one, I love GA
Comments
Unity10
I wish i still had the margin for this trade, .... Thank you sir for Sharing
fxsurgeon1
@Unity10, you're most welcome
edyon2002
@HiRoller this technique is unique, did you study ICT
fxsurgeon1
@edyon2002, I am familiar with ICT but this is adapted from NJAT
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