Rocketman
Long

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

FX:GBPAUD   British Pound / Australian Dollar
144 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.

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:
Comment:
still good job you doing
Reply
short man for today,with that pair.
Reply
Rocketman FxRanger
Yeah, I always was bearish, like the GBPUSD trade. I needed to test something; it worked. I am still short GBPUSD.
Reply
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