GBPAUD-broke and close below 2.15000
I wanted to post this idea yesterday but i decided to wait for the AUD news.
Similar to GPBCAD, this pair is on clear downtrend. Rejected from the trendline resistance and now price broke the strong psycholevel 2.1500 and closed below it with a clear red candle and is making a pullback. They used to call this system "M2 setup".
We have also a hidden bearish divergence on MACD still in play.
I think price is ready to continue the downtrend at least next month.
SL and targets shown on chart.
We have GBP rate news on thursday so trade with care.
Best regards.
*****************DISCLAMER********************************************************************
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: @fxtrader2000
Similar to GPBCAD, this pair is on clear downtrend. Rejected from the trendline resistance and now price broke the strong psycholevel 2.1500 and closed below it with a clear red candle and is making a pullback. They used to call this system "M2 setup".
We have also a hidden bearish divergence on MACD still in play.
I think price is ready to continue the downtrend at least next month.
SL and targets shown on chart.
We have GBP rate news on thursday so trade with care.
Best regards.
*****************DISCLAMER********************************************************************
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: @fxtrader2000
Comment:
First and second targes hit. Third target is just a matter of time. Regards.
Trade closed: target reached:
All targets hit.