Hi guys, based on my cored indicators and system, the GBPAUD is over bought and ready to fade before the next push up. Fading trends is always risky, but all of my indicators are screaming sell, so I am short @ 1.6856. Stop and Target are marked on the chart.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
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That was a bit like stepping in front of a moving train...
thats the trouble with news - you just dont know how long it will last , not sure if you look at supply and demand ? - but it does make a lot of sense the traders who have been using sup dem for a while always mention news etc will manipulate the market into a sup or demand area
interestingly there was no supply or demand in the area your were shorting
lots of supply demand software for mt4 - unfortunately there is nothing for trading view as yet
could be worth looking at as fi you can find these areas and use the currency barometer im sure the 2 will be powerful
cheers
WINSTON2016
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based on suppy-demand school of thought
looks like gbp trying to get to supply zone in the 1.71770 1st target then 1.72601 2nd target - looks like news just helping on its way to these areas
looking for signs to short around these areas ?
riffster21
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@WINSTON2016, It's over bought for sure, but it's been over bought for awhile now. I think Brexit is at work here. Not sure I want to step in front of that train again, lol...
interestingly there was no supply or demand in the area your were shorting
lots of supply demand software for mt4 - unfortunately there is nothing for trading view as yet
could be worth looking at as fi you can find these areas and use the currency barometer im sure the 2 will be powerful
cheers