GBPAUD SHORT

Rejection of the counter trendline+ Ema cross over+ rejection of a weekly level + Rejection of a killzone, looks like a promising short to the downside for a monthly key level of 1.900

Comment:

-Moved stop loss higher expecting a possible retest of the Weekly key level of 1.9250 level before continuing on the down side. thats where the 8Ema + weekly key level + counter trend line intersect.

-Remember Risk management is everything in this game. You always want to have a fishing position before going in with your main size to get the best R/R

Comment:

-I would be very surprised if price makes a higher high at 1.9275 at which point this trade would be rendered invalid.

Trade closed: stop reached:

SL reached, trade closed. Nice bounce of the 1.920 level. Looks like price is headed towards the 1.950 level on the upside