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GBPAUD: Seeking Further Shorts At An Important Key Level #Forex

FX:GBPAUD   British Pound / Australian Dollar
397 7 9
Traders

We are at a key instrumental level for GBPAUD             at the moment.

This is the instrumental leg to come back to the mean price, of which I think we still need to find before the trend begins to have an opportunity to change.

You can use very tight SL's on this trade. trading below 2.1250's is instrumental for this trade to be consistent.

Best of luck
Tom
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Agreed, Nice chart.
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What are NRC'S that you mention on chart pls?
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Narrow range candles, (candles that are in each others range significantly everyday, showing weakness on the move up)
Since the move up isn't strong and with clarity it's safer to assume we are still seeing weakness after the previous impulse leg since the pullback hasn't got any real sign of bull strength

This is NOT to be confused with NR7's or the associated NR7 strategy. Although the nature is simular.

Tom
+2 Reply
IvanLabrie PRO TomProTrader
Bill Williams' squat bar. Always near the highest low before a turn.
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marcus123 TomProTrader
Thanks for that!
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Agreed, was looking at it in fact.
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Love it. Been following it since I began trading and am so clued up with this poxy pair now. :P

Tom
+1 Reply
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