Fxprotrader
Short

GBPAUD: Tremendous R/R Ratio Sell Setup

FX:GBPAUD   British Pound / Australian Dollar
Price broke below the uptrend it was moving after reaching a key zone (0.618 fib and median line ). In 4h chart RSI is overbought meanwhile in the lower timeframes we have a bearish divergence. I will personally wait for a correction after this breakout and go short aiming for big targets based on structure. A high probability setup with great value..

Key zone:


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Price made it to 1.7359 went down. Should i delete the Sell limit or wait for another correction to 1.7360+ area.
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Yes, you may delete it and see how it retrace to that level. If it retrace in a corrective mode, we will still look for sell
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Buying the retracement up till 1.73738. Already in the blue, thanks mate..
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Not a good idea in my opinion
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Mike_H Fxprotrader
Already closed, just scalping. Sell limit and sell stops are already in placed
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Ok, good luck
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do you think is good wait a consolidation and entry?
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Fxprotrader BrayanRush
Personally i always wait, if you have another strategy to trade breakouts follow it :) Good luck!
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BrayanRush Fxprotrader
I am very desperate and sometimes entered the wrong time ever, I asked to be learning, sorry to bother.
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Fxprotrader BrayanRush
No bother at all.. Why to be desperate while trading? You follow your plan and you might trade one per week, or if the setups are there you may take 3 in a day :)
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