GBPAUD - TRADE SET UP - WAITING FOR ENTRY - BUY

British Pound / Australian Dollar (FX:GBPAUD)

Updated

FX:GBPAUD British Pound / Australian Dollar

Traders, i'm looking for a bounce of the 50%-61% Fib. level for a BUY.
DIONNG

Comment:

Traders, saw there was Red Folder news 13:30 and another at 15:00 and do not to trade at those times. I was expecting price to go to the recent high at least(1.9650).Technically, we are still in downtrend. Assess again over the weekend.

Comment:

Traders, the news candle at 13:30 came straight down and swept liquidity in line with August 30 low of 1.9489. Price then climbed to 1.9572(+83 pips) before showing signs of weakness. This is too messy and like i mentioned, trading around major news is more trouble than it's worth. This is where major manipulation happens. I'm going to publish examples of "TRAPS" set by market makers to take retail traders money.

Comment:

Traders, when i published this set up it was pre- London open. Price action was BULLISH and was expecting a pullback to the levels mentioned for a BUY. This did not happen therefore the set up was invalidated. Price continued up for around 40 pips and started to drop. Price could not break the previous high(hint,hint). Normally the 07:00 candle would have motored right up there in a bullish fashion but it did not. Look how the market can "TRAP" retail traders. How to avoid this? TRADE AT THE EXTREMES - THE HIGHS AND THE LOWS.

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