justatrader
Short

GBPAUD - Continuing the downside (Revised target to 1.982)

FX:GBPAUD   British Pound / Australian Dollar
214 3 5
Continuation from the previous analysis:

Weekly Head and Shoulders , price action has been quite choppy for the past two weeks, but patience will definitely pay off on this trade.

Obstacle 1: Weekly Break out from the minor price channel
Obstacle 2: Break of the neckline (2.08724)

The above will clear the way to 2.02135/1.982 eventually and the larger 1.9 if we get lucky.
Three profit targets, positive swaps on GBPAUD             shorts.

Price retested 2.14 and i'm expecting a test to 2.15 level, I think this might be the last retrace before the declines start.
Order cancelled: Scaling down the positions. 2.175 will be a surprise upside move, likely!
I remember this chart. Can you post an updated one with the recent test to 2.15?
Reply
jangseohee justatrader
sure, it spike higher and then reverse as expected
snapshot
+1 Reply
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