FullTimeTrader
Long

GBPAUD-bullish bat at D1 trendline support

FX:GBPAUD   British Pound/Australian Dollar
310 3 7
This pair is oversold and needs some correction.
Looking at D1 chart que price is near the trendline support and level 1.9000
snapshot


The bat completion coincides exactly with the 1.9000 level. I will enter long at this level but looking at price action carefully.

The targets shown on the chart are for information purposes only. Managing the trade is 50% of the work, the market changes all the time.

Regards.
Nice analysis, clean and simple
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i am confused I hope that you can help ...the rules say put your StopLoss 10 pips down of X. But you at least what I have seen you put the SL in the X. so the best is put the SL in the X? Thank you
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FullTimeTrader alan.perego
Hello, you are right, the SL must be 10 pips below the X point, i recommend you to do so, it works most of the times. But we must be flexible also, every trades is unique. Here the X point was 190 pips below (too far). Then I used the important psycholevel 190.000 and the trendline to protect the SL and place the SL below it.
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