JWagnerFXTrader
Short

Meaningful High and 4 Month Support Line Tested

FX:GBPAUD   British Pound / Australian Dollar
862 3 8
The GBP/AUD             has caught my eye. Prices have been contained inside a nice rising support channel. Yesterday, that channel was tested which establishes a low point for us to consider breakout trades to sell.

Zooming out, there is a confluence of wave relationships in 2.20-2.22 from 2 different sources.

1) 61.8% retacement from the 2008 high to the 2013 low
2) Equal wave measurement from the 2013 low

I'm interested in short breakout trades in a multi-lot fashion. That way, we can peel off some exposure if the sell off deepens to maintain risk in the market.

Short near 2.1517
Stop loss near today's high
First target 2.11
My stop loss on this one was too tight. Those with a wider stop may have continued with this trade.

Good luck!
Reply
sir it going up now so where v can sell again
Reply
second 1.99
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out