FX:GBPAUD British Pound/Australian Dollar
I recently posted this before the break on a set up. And while I imagine we still have some downside my set up has already been locked into profit. One thing I like to do with trades is make money on both sides. My plan on this strategy is to use my averaging strategy. Because we already have profit on one side we dont want to do anything to risky. SO the strategy will be at this point to use a third position and average up to 3 positions at this size. I chose this level to start longs because we have such a great candle. I imagine that this will be filled pretty soon. To add to the set up a retest is needed and we have a shaved candle. Hopefully this set up will play out the way I am anticipating so everyone will have the chance to grab pis on both side.
Comment: now at 2 1/3 rd positions
Comment: At one full position size now. Stop below the current low. Target the same. Good luck:)