AUD has gained some strength, possible swing trade? I personally will be looking to sell into any up movements into the rectangle box with my TP's around the fake move zones.
GBP has been amongst the strongest currencies in recent months and has made a significant recovery post the brexit referendum and has a strong weekly trend so i would not be surprised to see the pound break the highs, BUT this will take weeks, probably months. il be buying heavy into the fibs/accumulation/fake areas with tight stops. Also any divergence on the Rsi around those levels!!
Trade wisely and watch the fake outs, sell into strength and buy into weakness #1 RULE if price action goes against then try get out break even/small loss.
Happy Hunting!! (this is just my thoughts and obviously none of us know what the market is going to do).
Trade closed: target reached
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Entered @17781.5 and closed @17669.2 for for just over 112 pip profit.
expecting price to break downwards outside the box. have just re entered @17728.8 with a tight SL of 25 pips
Comment
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SL HIT -25 pips
We have seen a very strong move upwards and i have just bought @17874 with a 50 pip SL. TP is @18000