glennmercer
Long

GBPAUD Long: Breakout to New Monthly Pivot

FX:GBPAUD   British Pound / Australian Dollar
GBPAUD             has broken a bearish trendline and could possibly reach its new monthly pivot for February, 2016. This is a simple mean reversion trade based on structural S/R and a trendline breakout. Support may be found at the 200SMA and 200EMA lines in addition to S/R from structural lows. The short-term bullish trendline may also add support should price reach those levels. Entry is placed at the retest of the bearish trendline with SL below structural lows and target at the new monthly pivot .
Trade active
Comment: +105 Pips: SL Moved to below wave 2 of triangle breakout impulse
Trade closed: target reached: Closed for a win before the news - original pivot target reached soon after for +140 pips
it needs to crack 2.025 for further action towards 2.03 and 2.035.. below 2.025 it will remain in consolidation..
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out