GBPAUD - Broke and retested daily resistance - MORE UPSIDE!

FX:GBPAUD   British Pound / Australian Dollar
GBPAUD broke the horizontal resistance and retested in the daily chart , further advance is expected. Price is also in an uptrend channel , Look to buy. Great RR if price goes as predicted!

Possible entry:

Stop loss:

Take Profit:

Feel free to share charts in the comments!
Sep 21

Because of recent Brexit developments, GBP may have some more room down. If price breaks the major red zone, we can look to enter at the smaller red box, which is also a support drawn from previous lows, coinciding with a major support/resistance area. For traders waiting for a better and more conservative entry, look to enter at around 1.78, stop at 1.77, TP remains the same.

Alternatively, if price doesn't break the major red zone, then buy from there and keep SL tight.

Will update more over the weekend and on market open.
Sep 23
Comment: Price made a gap in our favor. As expected, Aussie is weak due to the recent developments in US-China relations. China is Australia’s largest trading partner.

Keep SL the same. The pair will have more room to the upside!
Sep 24
Comment: Price running 100+ pips! Move SL to breakeven.
Sep 24
Comment: +150 pips running profit. Close half position and move SL in profit. Let the rest run.
Sep 25
Comment: +200 pips in profit. First TP about to be hit. Secure some profit or move SL 100 pips from entry. Let the rest run. :)
Oct 08
Comment: TP2 hit! +500 pips in profit!
once the down trend starts, the resistance will be broken until 1.748. personally. there maybe a pullback tomorrow.
+1 Reply
@dbsdsun, Aussie is weak right now. And the continuation of the bullish trend is more likely. :) thanks for your idea!
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