Mikoxl.
Short

Will the bulls of 1.9600 turn into bears?

FX:GBPAUD   British Pound / Australian Dollar
A descending triangle is shaping since the 14th of Februari. Notice that this triangle is forming after a pretty bullish trend starting from December 2014. This could mean a trend reversal triangle.

There were still people buying up the 1.9600 level. I assume they have a relative tight stop because the first stronger support level is at the 1.9380 area which exposes too much risk.

So if the price breaks and close below the 1.9600 area I think that momentum will build up with bulls becomes bears losing their money.

With this analsys I'm trying to come up with a plan to scale in with my current short positions.
Waiting for a retest of the broken triangle to scale in short for the midterm bearish correction.
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Nice, the pop has triggered at lot of stops!
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