akyong
Long

GBPAUD: A divergence retracement trade

FX:GBPAUD   British Pound/Australian Dollar
We have a completed divergence setup. Traders can now potentially wait for price to retrace back to the 2.1420 region for a long opportunity targeting the 2.1660 region.
Congratulations! Your chart has been selected to be highlighted as the post of the day. This is a great example of using divergence to plan a directional trading opportunity.
+1 Reply
akyong walker.england
thanks! always great to know that I am contributing and my post is able to share some insights with other traders :)
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I think there might be no retrace and the price is going straight to target.
Actually, there was a retracement, when the 5th bar from the breakout bar spiked all the way down to 2.14210 !
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akyong Nicemate
yea, price can actually go straight up without a retracement. As traders, we just have to plan ahead so we can respond accordingly when price give us the conditions we are expecting :)
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But absolutely well done !!!
+1 Reply
Hi Akyong! may I know what is your RSI setting ?
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akyong Jeffrey_Sucipto
Period 7. Few traders have asked how I use the RSI to trade as well. So I will be releasing a short video to explain how we use RSI to spot potential setups as well :)
+1 Reply
Very interesting setups i must admit. Do you have a channel where you post your videos?
+1 Reply
akyong AkashGaur
yes, the video is currently still processing.

https://www.youtube.com/watch?v=4bJxh4AOh_s
Reply
akyong Jeffrey_Sucipto
here's the link to the video

https://www.youtube.com/watch?v=4bJxh4AOh_s
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