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Gregg97
Nov 21, 2018 7:27 AM

GBPAUD Short Set up Short

British Pound/Australian DollarFXCM

Description

Looking for a rejection in the shaded area
Comments
dutchtrader
I ;ike the fact you work with Q theory as well.. :)
Pepperstone
Great idea on GBPAUD, glad that we have the same bearish bias. Prices are currently making lower high and lower lows thus indicating a downtrend. A key support level to look out for is at 1.7828, of which a 38.2% fibonacci retracement lies and price had previously retraced to that level. Take profit zone is from 1.7100-1.7000, which is slightly lower than the monthly supply zone that you've identified. Fundamentally, politics in UK is currently rather messy.
Please take a look at our idea and let us know what you think.

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