FX:GBPAUD   British Pound / Australian Dollar
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6
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Might be the correction !!
Correction, OK. I am taking my first trade down from market (1.83968) to 1.82926 because it's level with my Fib 23.6 AND it's higher than your 1.79966 AND because I'm a scaredy cat. Tour final TP corresponds with my Fib 61.8. My full trade starts from 1.82926 down to 1.79454, which corresponds to Fib levels 38.2, 50 and 61.8 on my chart.
I'm not saying there's a right and wrong here, I just wanted to make sure I was well into the Fib retracement before I considered the trade seriously. I've been caught before entering a sell trade at or near the top only to have it turn around and go north on me.
At least er both see the downside potential; let's DO this :-)
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Great call! Our Master Bull/Bear - Uptrend/Downtrend Confirmation - (Green and Red Background) is confirming this call as well.

Enjoy the profits!

+1 Reply
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