FullTimeTrader
Short

GBPAUD-multiple reasons to short

FX_IDC:GBPAUD   British Pound/Australian Dollar
389 5 5
A good setup for next week, i see here multiple reason for a short entry.

- Triple top with double divergence
- multiple pinbars-rejections from 2.1500
- strong psychonumber 2.15000
- first convergence-divergence setup after a long rally (this offers a R/R ratio at least 1:2)

SL above 2.1500
Minimum expected target : last lows (400 pips)
Second target: near 2.05 (700 pips)

Happy weekend!!
Opinion on the gbp/cad??
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FullTimeTrader caspar.wikstrom
Hello: MOVE.COM. Trading is not winning all the time, losing is a part of the game!. Most important is be disciplined following the plan and keeping a good R/R ratio. This one looking better for next week following the GBPNZD and GBPJPY declines. Regards.
+1 Reply
IvanLabrie PRO FullTimeTrader
GBPAUD is a beast of its own, same as gbpcad, they just trend up. :)
Nice going on NZDCAD mate, I entered a pair trade today and it went well, looks like nzdusd and nzdcad might have bottomed indeed after more thorough analysis.
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FullTimeTrader IvanLabrie
Thanks, do no forget a rate cut on NZD is inminet so i will looks for shorts on NZDCAD higher. This is jus a needed deep correction.
This is my long termp plan for the NZDCAD
snapshot
Reply
RamprasadSanthanam FullTimeTrader
I am still holding my short GBPAUD at various levels avg Short at 2.1567 any views for this week ? Thanks
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