Rocketman
Long

A Small Trade in GBPAUD: Volume Thoughts, but Still Bearish GBP

FX:GBPAUD   British Pound/Australian Dollar
143 3 4
A fellow trader posted an idea to buy GBPAUD             , using a what is being called a "Libra Pattern", namely, Projack's strategy, and a variant of my own strategies. A few days ago, I avoided an intraday fall in GBPAUD             with the help of volume . This time it looks a little better, but I am still bearish on the GBP currency overall; hence, this small trade in GBPAUD             .

If GBP/AUD             does shoot up 1000 pips, it is not because of GBP itself, which is a big large load of toilet stew right now, but because of AUD's weakness.


RISKS TO THE TRADE:
There was a divergence; however, a supply line as not been breached, which reduces the odds of this trade being a success. And we are here to succeed or make good trades for a living.

FEELINGS:
Now, I never ignore a supply line, but in this instance, I will take a small risk; hence the small target.

snapshot
Comment: So far, my BEARISH assessment is correct; that this trade has a low chance of working out. Interesting.
Trade closed manually
Comment: per my charts above....i closed it
Comment: ...staying bearish the poung..
Comment:
snapshot
Comment:
snapshot
Follow me and live your dream!

Join my lifetime, one-on-one, forex coaching sessions for a low, one-time, fee, forever. Promotions held monhly, just ask.

http://www.rocketmanfx.com/services
short man for today,with that pair.
Reply
Yeah, I always was bearish, like the GBPUSD trade. I needed to test something; it worked. I am still short GBPUSD.
Reply
still good job you doing
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out