FX:GBPAUD   British Pound/Australian Dollar
1795 16 30
a year ago
See the related ideas for my analysis of this pair, which demonstrate the power and surgical precision of the Time at Mode methodology I learned from Tim West here.
In this juncture, the weekly chart is offering a potential retracement entry, in case we were to see such an event, which would guarantee a 9.54:1 trade op.

In case price were to continue straight down, I'd be looking for alternative ways of joining the decline, perhaps having to resort to lower timeframe entries for instance.
For information on managing positions, and getting trade signals and coaching, contact me or Nicholas Coulby (ncoulb1) here. We're running a trading room Skype group for Forex , CFD             , Metals, Energy or Stock traders.

Cheers,

Ivan Labrie
Time at Mode FX
a year ago
Comment: Forecast working great.
a year ago
Comment: Still, on track.
a year ago
Trade closed manually: Might be time to bail.
a year ago
Trade active: We might be able to reshort here.
a year ago
Comment:
snapshot
a year ago
Comment:
snapshot


Trucking nicely.
a year ago
Comment: Nice short for now but be careful, trail stops down to protect profits.
a year ago
Comment: It's a good time to book profits, but keep trailing the stop loss.
Trail stop to: 2.1319
a year ago
Comment: Trail stop to 2.0888
a year ago
Trade closed: stop reached: Trailed in profit at 2.0888.
a year ago
Comment: 1.43R trade...for that last bit.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
Short paid great on Friday, but looks to have represented a mere fraction of the downside to come
Reply
IvanLabrie PRO NickCoulby
a year ago
Indeed, I just anticipate a retracement for many reasons.

snapshot
Reply
ddp922
a year ago
This is playing out very nice so far. Once 2.0850ish breaks it's all down hill after that.
+1 Reply
IvanLabrie PRO ddp922
a year ago
2.07898 first. Then down to test the red support below.
Reply
KVE PRO
a year ago
Well on the way!
Reply
IvanLabrie PRO KVE
a year ago
I missed the 3rd entry at the black dashed line sadly.
No problem though, I already made more than 3 times my risk with this pair so far.
Thanks for stopping by.
Reply
LearningForex
a year ago
Oh, I missed the entry... i am expecting it to retrace to 2.09 and short from there.. whats your opinion?
Reply
IvanLabrie PRO LearningForex
a year ago
We can monitor the daily or 4h for a retracement entry, the trend is established and the target is very large, plenty of chances to rejoin it.
+1 Reply
HiTech PRO
a year ago
got similar picture Ivan, nice
GBPAUD DOWNTREND
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HiTech PRO
a year ago
and gbpnzd
GBPNZD continues to fall
Reply
IvanLabrie PRO HiTech
a year ago
Great, same view.
Reply
moneymaking
a year ago
Wasn't it better to reduce exposure by lowering your position size rather than closing out your whole position?
+1 Reply
IvanLabrie PRO moneymaking
a year ago
You can also hedge with long.
In this case, I have a very bullish rgmov reading in the daily, so I think it's dangerous to expect lower.
+1 Reply
moneymaking IvanLabrie
a year ago
Ohh ok, right the Tim's method. Always follow the plan. Thanks mate :)
+1 Reply
ddp922
a year ago
Ivan how far do you think it can head down?
Reply
IvanLabrie PRO ddp922
a year ago
Potential target is on chart, but it's a long shot.
We could at least aim to retest 2.09689 first.
Reply
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