FX:GBPAUD   British Pound / Australian Dollar
The pair is forming a flag pattern (and hopefully not a falling knife) after a strong impulse, so we could be getting one more impulse to the upside. On top of that we may have gotten a nice inverse head and shoulders should the pair not break down from the flag pattern .

Looking at a retest of the 1.7825 level which is a key structure level too.

My personal details:
Long @ Entry: 1.7642, SL: 1.7615, TP: 1.7825, RR: 6.7

For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.

i see also a possibility for long but i post this because of your SL... if i'm right... and if you want, move it just a few pips (to not be kicked out)...

+1 Reply
NeverNO NeverNO
can fall a bit deeper as on my chart ... to 1.7599/80 ... no H1 closing below it... that will be a good sign for long
+1 Reply
@NeverNO, thank you for your comment, but I'm not really willing to do that...if i get stopped out i'll look at re-entering given i get a good setup and entry confirmation. Thank you for the consideration though
NeverNO SN_Doumet

of course... i understand that.

the chart again... higher & deeper


+1 Reply
@NeverNO, interesting views, thanks :)
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