GBPAUD SHORT SMIO/SMII & VOLUME PROFILE
SMIO AND SMII show there's still a relatively strong dip going on. When looking at the H4, we can see a (not so clear) channel. Combined with the looks of the Volume Profile, the most logical move is the continuation of a short at least until 25th of May 2016 (this wednesday).
However. There could be newer support that causes a slight bump up and then down through it at around 2.00000 flat.
If that is the case, watch out and tread carefully at that level.
After this move we can expect the finish flag to be found and then either a small dip below the channel support or a trend reversal to LONG on thursday (26th) or a bit sooner.
However. There could be newer support that causes a slight bump up and then down through it at around 2.00000 flat.
If that is the case, watch out and tread carefully at that level.
After this move we can expect the finish flag to be found and then either a small dip below the channel support or a trend reversal to LONG on thursday (26th) or a bit sooner.
Trade closed: stop reached:
This one reached my stop loss, on the small short. It might take some time before it breaks the lower channel resistance there (or it has shifted).
There might now be a LONG-entry for you at the 61.8 or 50% retracement. Wait for confirmation on the soon to be bullish trend.
There might now be a LONG-entry for you at the 61.8 or 50% retracement. Wait for confirmation on the soon to be bullish trend.
-continuation on short until: 24th of may (tomorrow late afternoon)
-possible reversal: at or just before the 25th of may.