GBPAUD: Downtrend is done

FX:GBPAUD   British Pound/Australian Dollar
We have a good opportunity to go long GBPAUD             with a rather tight stop loss here. Now that RgMov shows us that the trend is up once again, we look to buy on oversold dips, but that might take a while, after this first run up is done and momentum slows down in this pair.

Good luck!

Ivan Labrie.
Comment: 90 pips up, with a 94 pip stop. Looks promising overall.
Comment: If you took the trade, you're welcome.
You can close partially if you want, I'm holding for now.
Trade closed manually: I'm out for now, will reenter after the correction is done.
+1 Reply
Thanks. You took it?

I moved stop to entry price now and added a bit more near the daily close.
gfknn5 IvanLabrie
yes , i stickly follow your instruction ^.^

thank you very much for work hard and perfect prediction!!!
+1 Reply
Thanks for the kind words. Keep in mind win rate for trend following tends to be lower. I try to trade different strategies but I'm mostly trend following. Just a heads up.
Never risk more than 2% per trade, I'd reccomend 0.5-1% (I do 0.5%).
You'll be surprised to see how fast the account can compound when you have a good winning streak trading trends.
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