tntsunrise
Long

GBPAUD RANGE TRADING PLAN with Confluence

FX:GBPAUD   British Pound / Australian Dollar
1239 13 27
Range Trading:
Price came to the lower range boundary
of 2.0267.
Seller has tried Twice to push the price
but failed.
RSI & MACD Shows Bullish Divergence
Enter a Long Trade here
and aim for the previous range
SL: 2.0244
TP1: 2.0460
TP2: 2.0660
Trade closed manually: Closed half position at 2.03, the rest position stopped out at break even.
Comment: Although I closed my position before it take off
we can see after this Range Swing,
it goes up to the next 2 ranges.
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I agree with you. This is a long position,maybe SL can be 2.0 and TP1 is 2.085. GBP/JPY is good position I guess.
It is my opinion which is for your reference only.
Happy new year~
Reply
Why would you try and long something that is consistantly making lower lows? This is a short on every TF and any pullbacks you should take as an opportunity to add shorts.
Reply
Great Stuff !!! Thank you for your work and sharing. Happy New 2016 and many green pips !
Reply
Apologies, but in the Daily Chart, the "round Number" 2.000 ( Resistance from February 2013 ) will probably allow a long Trade for quite a while - Thanks for sharing your Trading Plan, much appreciated
Reply
SL hit :(
Reply
tntsunrise TOP bdfxmusfiq
Before it hit my stop loss, price did went up to 2.03, and I closed half position with rest Break even.
+1 Reply
bdfxmusfiq tntsunrise
Keep it up brother :D you are a very very very good trader :D
Reply
SL Hit :( but raising again. i think Buy is still valid. due to holiday volatility is high
Reply
EagleTraderFX balaji2309
I think u should consider ur broker spread sir..
Reply
if break down 2.0244 , should we make a short plan ?
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