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
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!
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.
yes, mate, it was nice))
#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.
"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
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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