GBPAUD Short term Forecast: Bearish Three Drives| #forex

FX:GBPAUD   British Pound / Australian Dollar
1995 10 34
**Update: Trade is active, closed my first half at first target, i moved stop loss to break even on the second half.
**Update: Second half was stopped out at break-even
-Three drives pattern completes at the top of the main rising channel .
-The price failed to sustain the breakout above the channel last week to move back within the channel
- Pin bar was formed yesterday confirming my bearish bias
-Price was overbought and currently losing momentum on RSI
-Good trade in terms of risk-reward..
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
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Good luck, keep your stops tight..
My best regards
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Stopped out at break-even for the second half mates....
shenkw85 Technician

Key support level breaking.. Should see 1.933 level if the daily close below the key support which will serve as resistance for the pair.
closed my first half at first target, i moved stop loss to break even on the second half..
great job. thank you for you're work
+1 Reply
Thanks Anvari :)
munish Technician
Hey! U have a gr8 eye. Simply amazing........
Hello Technician,

Great call, the backside retest against the upper channel ( or first lower top ) confirmed this one, well done!
Technician Timing is key
Thank you fellow trader, lets see if we reach full target!
Hi technician hope you are fine thanks for analysis
+1 Reply
Technician manijeh.kazemi.33
Thanks my friend
+1 Reply
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