FX:GBPAUD British Pound / Australian Dollar
I have 2 positions open currently, seeing as the fundamentals are helping AUD become much stronger during the pandemic this should hit the TP. Have to manage the trade according to the news GB put out as well as when price hit key fib levels.
Trade closed manually: Closed second position fully. First position running with stops at BE and 50% secured.
Comment: 61.8% Fib level is being held well. AUD CPI tomorrow may cause bullish momentum, if news is as forecast or worst.
Trade closed: stop reached: Stop reached on the positions I had at 1.910000. This was above the 50 MA on the 1 hour time frame. Luckily I placed my stop there. 300 pips from the first position was still obtained! Good trade. The fundamentals have now shifted so I no longer see this as a valid trade. The trend has also altered.