Jacksonian
Short

GPBAUD Spike Trade Rejection or Break

FX:GBPAUD   British Pound/Australian Dollar
6 months ago
These spikes are starting to show strong rejection. There is a trend line bringing the price up, and with a change in the head of the Reserve Bank of Australia, anything could happen. The blue rectangle represents the unknown             zone. I would suggest targeting the short term short, and put your stop loss at the top of the blue rectangle. If the price closes above the rectangle, close the short, and go long, otherwise, stay short and target those 100 pips. If price breaks the blue rectangle, it will easily cover your loss on the short position and still give you profit. There should be profits either way.
6 months ago
Comment: If it climbs 20 more pips and closes, then buy
6 months ago
Comment: Still in the green. I would put a close order where the bottom of the previous hours wick touched
6 months ago
Comment: If price closes below 1.958, we should be in for a drop further than where my original target was placed
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