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.
Nice, the pop has triggered at lot of stops!
Reply
Waiting for a retest of the broken triangle to scale in short for the midterm bearish correction.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out