Hello,Traders! GBP-AUD is retesting a strong horizontal resistance level And while I've got a mixed bias on the pair The level is strong enugh not to be broken Without a pullback and a local correction Which is what I am expecting Buy! Like, comment and subscribe to boost your trading!
What portion of the account do you recommend to risk here?
UnknownUnicorn493766
⋅
great
TopTradingSignals
⋅
What do you think?
Helena_FX
⋅
@TopTradingSignals, Why risky? Your GBPNZD is Short right? So this one should also be Short.
DoctorTanzanite
⋅
@Helena_FX, I am also wondering why GBPAUD is risky while GBPNZD is not? Any logic behind this?
Helena_FX
⋅
@DoctorTanzanite, It happens quite often even with more experienced traders because people forget about the correlation factor. These two pairs move in the same direction, of course not identical moves, but very similar.
DoctorTanzanite
⋅
@Helena_FX, Thanks for your reply. I have often considered AUD to be more strong than NZD as such I would want to think that GBPNZD is more risky than GBPNZD and not vice versa. It is either both sell off or gbpaud sell off but I would not expect gbpnzd to sell off and gbpaud not to sell off. What is your comment?