FullTimeTrader
Short

GBPAUD-another 0.61 retracement

FX:GBPAUD   British Pound/Australian Dollar
986 12 15
I like this setup, just like the GBPCHF             this pair is retracing to the 0.61 fib that offers a strong resistance.
The round number 2.200 is also at that area.
As expected, after dovish GBP rate news the targets are reachable.
See you tomorrow!
Regards.

I like this setup as well, could very well function as well as my idea too, here is it:
GBPAUD ascending triangle idea
+1 Reply
FullTimeTrader Koryphaeen
Looking at W1 and D1 charts the last highs will be hard to be rached, the rate news will decide, lets see tomorrow. Regards.
+1 Reply
Koryphaeen PRO FullTimeTrader
Yes, could be true, but if you see the previous ascending triengle, which I didn't draw it on my chart, but it's obvious (in that point I thought the same thing, that it couldn't go higher), worked perfectly. Anyway, if rates are bad, there is a chance for me to follow the down move when blue support is broken. Let's see tomorrow, as you say. Regards.
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Are you waiting the news announcement tomorrow to enter this trade?
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Its depends on each trader, personally i have already closed the trade before the news with 150 pips profits and keep my GBPCHF short trades opened. Just in case, i do no want to overexpose my account in case of non expected news. Regards.
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ellee FullTimeTrader
GBP news just out, seem like the news is good for the GBP, should i still keep my short GBPAUD open ?? im planning to trade long term on these pair. Thanks
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hello, i was sleeping when the news were released and i see they were "neutral", my bias is still short on this pair. If you are already short i would hold the positions moving SL to BE. The AUD is getting stronger against other currencies.
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Your idea is supported by simple bear flag pattern trade!
GBPAUD. BEAR flag - sell below flag (2.18) with target at 2.14
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Nice find! we have an opportunity to re-enter following your setup, regards.
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aibek FullTimeTrader
Indeed, as I was crying missing your entry ))))
But it wasn't so obvious and safe for mass traders.
Here is clear risk area above the flag.
Thanks for nice setups!
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Waiting for confirmation on the breakout of the trendline here, I think break upwards is less likely, hoping for a continuation of the down trend..., made some decent pips on this pair already this week!
snapshot
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Good idea, good luck!
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