MrRenev

Adding to my winner

Long
MrRenev Updated   
FX:GBPAUD   British Pound / Australian Dollar
Looking to go against the short term trend and with the long term here, in a way adding to my pound bet (GBPUSD) from 2 weeks ago.

I am short gold and you might have heard AUD & XAU were correlated, and shorting one meant shorting the other, cringe:

More like the opposite last years:

The pound has been in a downtrend for years, but the australian dollar MORE so pound to australian$ is going up and up and up.


To the moon! Why would it change direction now.

Can you feel the heaviness tonight?
There's a calm surrender.
There's a time for everyone.
And now it's time for the bulls.
To feel the rekt tonight.

I identified this buying box using voodoo magic. The entry itself is not even that important.

First green candle after a long strong of red ones.

Bottoming after a downtrend.

GBPUSD itself sort of sucks now, this pair is much better, this I would call adding to winner but improved (more sophisticated).

Now just waiting for noobs to get scammed and provide liquidity, and I enter on a SFP.
Trade active:
In the box.

GBPUSD trending up too


Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.