Simplify-
Long

gbpaud at the bottom? - Long

FX:GBPAUD   British Pound / Australian Dollar
111 6 7
This may be the entry for the idea i've published almost a month ago (related ideas).
I am treating this correction as an ending diagional, this offers us a great risk to reward in the 3 entry points i've marked, and a small stop for the more agressive one.
Stops are placed below the invalidation point, that is where wave (v) is longer than wave ( iii             ).
If price invalidates this setup, is nothing to worry about, if you comapre the stop with the potential reward this setup has.

For me:
Entry: 2.0021
Stop loss: 1.9899
Target1: correction upper trendline
Target2: upper D1 channel trendline
Comment: First position break even, and added on break of trendline
You Nailed it Dude, Good !
+1 Reply
Simplify- InsiderB
Thank you Billa ! Now let's see if we get out of the correction, and make one more move up.
+1 Reply
nice analysis ...good luck
+1 Reply
Thank you pardis ! Good luck to you too.
Reply
Yes, looks good to move up
+1 Reply
Simplify- Piet.Hein
It does look good, it looks even better if you take in mind the potential reward this pair has.
Thank you Piet !
Reply
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