A Small Trade in GBPAUD: Volume Thoughts, but Still Bearish GBP
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.
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:
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
