Break & retest of a previous area of resistance for support
38.2% fib retracement level present
Upwards trendline present
GBP is the second strongest major currency where as the AUD is the 7th strongest major currency
25K short positions decrease for the GBP
2K short position increase for the AUD
Bearish Confluences
30K long position decrease for the GBP
1K long position increase for the AUD
Stay Safe - The JPI Team Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active
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Our entry criteria has been met and our order has been filled. We are long on this pair expecting that the AUD will continue to fall which in turn would push price higher on this pair.
Trade closed: target reached
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Trade Closed (+1.15R) Made After Trade Comments: This pair recently has been good to us. We've been able to catch this exact move twice now and both times we locked in a decent profit. Price did go into a fair bit of drawdown which whilst may be worrying to some, however we have trust in our strategy and we let our edge play out. The AUD ended up having worse then expected news come out, just as we expected and we since saw price rally straight to our take profit. This was a nice quick trade to catch. Onto the next!