AdamHong
Long

GBPAUD:1.618EXT and the Breached Inscribed Trendline

FX:GBPAUD   British Pound/Australian Dollar
41 0 1
The price hit the 1.618EXT of previous rally and the downward inscribed trendline has been breached.
So it is a good chance for opening long position at 1.596-1.572 levels which is also the retracement of 0.618 and the pullback of the breached inseribed trendline .
SL:below 1.592
TP1:1.606
TP2:1.620

The 1.607 level maybe a very strong resistance,and if more profits are wanted,the market must break through this level at first.
Trade active:
snapshot
Comment: Although pulled back too much,1.592 level was still kept.
Comment: The 1.607 level is very stong,and more patience is needed.Just wait and see.
Comment: TP1 reached.
Trade closed: stop reached: Just TP1 reached,and some profits were taken.
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