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ForecastCity
Feb 27, 2018 1:31 PM

Catch this long-term Sell opportunity of GBPAUD!! Short

GBP/AUDOANDA

Description

Trading suggestion:
There is possibility of temporary retracement to suggested Sell Zone (1.7860 to 1.7995), traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.7860)
  • Ending of entry zone (1.7995)


Technical analysis:
  • A trough is formed in daily chart at 1.7575 on 02/13/2018, so more gains maximum to Sell Zone ( to ) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 56.


Take Profits:
TP1= @ 1.7650
TP2= @ 1.7565
TP3= @ 1.7365
TP4= @ 1.7205
TP5= @ 1.6860
TP6= @ 1.6550
TP7= @ 1.6160
TP8= @ 1.5790
TP9= @ 1.4375
TP10= @ Free
Comments
shanicej856
Although it went back up, (I got out once I saw it go back up) the daily candle close on Friday looks great for shorts wouldn’t you say? I mean, on my Stoch RSI, it’s pointing straight down on the Daily TF. EA is doing the same.
FxTeacher
Seeing that this broke the trendline..I should just hold my short position instead of looking for the possibility of a temporary retracement into the sell zone..right?
alexandretainmont
@bryceboss20, pullback
oberbane
Thanks for the analysis!
ForecastCity
@oberbane, you're welcome :)
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