FX:GBPAUD   British Pound / Australian Dollar
1546 11 27
Chart says it all:
-Broken and closed outisde really strong trend line acting as resistance
-Now not making lower lows
-Also found support on the monthly key level 1.9900 and 20000
-which is a good psychological number if it hold
-Break-retest-enter
-Target key level of weekly resistance 2.0400
Trade active: Key to trading is doing accurate analysis but more importantly....TRUST IT and HOLD IT :)
Trade closed manually: Took some profits before the weekend as I hate holding over the weekend.....And its a good job I did because we've fallen off a cliff here
Holding trades over weekend is like waiting to get hit by a bus come market opening time the following week. LOL
+1 Reply
long @ 2.0046300
+1 Reply
Wesual Wesual
Unfortunately it still went further down and hit my SL :/ only by a small amount.. damn. better luck next time. Good analyse tho!
+1 Reply
Thats a shame, you need to have a decent size stoploss for erratic pairs e.g. gbp crosses :) If its too much of a risk in terms of money just decrease your lot size :)
Reply
Wesual jackmyattFX
Yeah. I started doing live this week and doing it with real money is much more stressful haha. I have to learn how to deal with that still. :) Also I need to find a better entry point in the future. : ) Looking for more charts from you bro!
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I you need to learn how to deal with it bro a 5* book which will 100% help is "trading in the zone" by Mark Douglas its all the psychology behind what makes a successful trading helped me LOADS. :)
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what about daily? isn't that an island reversal signal?
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you think the support break in daily is only a false segnal?
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Hey man just watch for a retrace as I said break retest and enter but we have had a retest on smaller timeframes....but the close outside it bullish move in my eyes.....Weve had alot of downward movement recently anyway.....what goes down must come up :)
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Mirko93 jackmyattFX
okok man ! i think is possible go more up !and testing the support broke yestarday :)
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