Bearish GBPAUD for the next hour. Trading within the cycle

1. Hit a recent high. We except bears to correct to a certain bottom.
2. We are fighting the main trend though - trading within the cycle!
3. Prices were fought back by bears as seen from the candle at the recent high, implying strong resistance level.

Trade active

Comment:

Low probability trade, but we want to test if our analysis is correct. Expecting a correction of about 15 pips if trend is truly bullish!

Trade closed: stop reached:

Hit Stop. Did not reach our required movement downwards - will continue to monitor

Comment:

Interesting. It went bearish way beyond the hour!