GBPAUD:1.618EXT and the Breached Inscribed Trendline
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.
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:
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.