TomProTrader
Short

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
Agreed, Nice chart.
Reply
What are NRC'S that you mention on chart pls?
Reply
TomProTrader marcus123
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.
Reply
marcus123 TomProTrader
Thanks for that!
Reply
Agreed, was looking at it in fact.
Reply
TomProTrader IvanLabrie
Love it. Been following it since I began trading and am so clued up with this poxy pair now. :P

Tom
+1 Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out