ChaosTrader63
Long

GBP vs AUD Long Trade Idea 8-22-13

FX:GBPAUD   British Pound / Australian Dollar
158 0 0
The GBP vs AUD has been on an uptrend since 4-11-2013 and looking at the daily time frame and the 4 hour time frame the pair is bullish based off of the Ichimoku Kinko Hyo. The pair currently is bouncing on a minor support level @ 1.72479. The previous retrace and the bounce on the support level is our purpose to trade the level with a tight stop just below the support level . The medium term and short term momentum have stalled at this time based off of the flat Tenkan and Kijun but I am expecting the support to hold and the pair move up to the support level at 1.74513 which will be our target. If this previous candle closes above the indecision candle then our pullback may be complete triggering our trade. Have a great and blessed trading day!
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