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NilsTrading
Feb 28, 2021 8:28 PM

GBPAUD possible short trade Short

British Pound/Australian DollarFXCM

Description

GBPAUD has reached the FCP zone on weekly TF, it also confluences with another FCP zone in 4hr TF. It has started to show some bearish indications (rejection from monthly 61.8 fib level), a possible short trade is foreseen.

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Disclaimer: This is not a signal, this analysis is for educational purpose only. Please do your own technical analysis and get into the trade with your own risk when you find a valid entry.

Comment

1st and 2nd targets are already reached.
Comments
VividCloud
what is FCP zone?
NilsTrading
@VividCloud, FCP stands for "Fibonacci Confluence Pattern". FCP zone is basically the zone where major fib levels come in close proximity.
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