RKchartest

GBPDAUD and AUDUSD Trade Ideas

FX:GBPAUD   British Pound/Australian Dollar
AUDUSD             is approaching a level of resistance that could act as a roll reversal level. This can equal a great trading opportunity with very good risk to reward. The GBPAUD             moves in reverse of the AUDUSD             when the AUD gains strength. Also the GBPAUD             will move a much larger pip range that will allow a typical risk to reward on the AUDUSD             be increased another Reward or two.

AUDUSD             trade is good probability setup. If you decide to take the GBPAUD             trade, you can play the range and have a nice R:R of 4.0 if you use the range low at 1.9087 level for a stop. Or you can try to let the trade ride and lock in the RR by moving your stop if the pair breaks the resistance level at 1.9262
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