Alexander_Nikitin
Short

Just look at this risk to reward. Isn't the setup worth trying?

FX:GBPAUD   British Pound / Australian Dollar
hey, traders. Look at the piscture. We had two impulses in one direction separated by correction which is the definition of a trend. Then the trend was stopped by a new structure high. After that we had two impulses in one direction separated by correction again. We know that usual trend's length (until it stops by nsh/nsl) is two impulses. So I don't expect to get extended move here. Just a retest of lows. Stop is above X. Cheers.
god! this is perfect
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Thanks, mate. Check the related ideas. They have the same setups working the same way. Click follow button if you'd like to stay updated with my ideas.
+1 Reply
Very nice!
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OMG!! That was a perfect strike!!! I'm pinching myself. I mean I bailed out at that level of support around 2.15, as I couldn't have imagined that it would break down. Learning.. learning.. getting towards the 'fearless' state.
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yes, mate, it was nice))
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#4 principle of consistents success: "I act on my edges without hesitation or reservation". Just be mechanical))
+1 Reply
Excellent! I will be selling this pair @ 2.1587 if price pull back into previous support. Thanks for sharing.
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"We know that usual trend's length (until it stops by nsh/nsl) is two impulses"; Can you say where you get this information? thanks
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Backtesting
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I think you could also take a opportunity on the bullish side . it looks like it just formed a cup with handle. it looks like. just waiting for a breakout. thanks for the analysis
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