Snehath
Short

GBPAUD Short at last week's high

FX:GBPAUD   British Pound / Australian Dollar
This aligns with the fact the AUD is likely to strengthen next week. I would still short EURAUD             over this pair as EURAUD             has been resisted two times in two weeks.
Order cancelled: There is an error on this chart. I won't be taking this trade.
what is that pattern bro ?
Reply
Snehath BLUE43
My apologies - this is a butterfly pattern. It is not easy to get the ratios aligned on TV sometimes. I am likely to take the EURAUD trade because it has established a strong resistance at 1.56. This pair still seems to be in an uptrend with just last week's high established.
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BLUE43 TOP Snehath
cause a butterfly pattern need a minimum ac of 0.382
Reply
Snehath BLUE43
I just checked my measurements - this is just 0.315 retracement which is beyond the tolerance level. Good spot, I will take this trade out.
Reply
BLUE43 TOP Snehath
well not saying it will not work just saying it dont fell the rules for a butterlfy pattern, its not the same, trade your plan
Reply
Snehath BLUE43
Yeah, but its not within my rules if it bends the 3% tolerance level. I should have checked before I posted :(. So it is just EURAUD for this week.
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