Really nice reversal candlesticks
forming on GBPAUD
, right at resistance, after a pullback in the downtrend. I'm short here at 8160, with my stop at 8387 and my target profit at 7728. I strayed from my normal 3:1 reward/risk requirement here, but I liked the setup enough to warrant it worth the opportunity. Moreover, if we can get to my target profit, I may re-evaluate and opt to take half off there and let the remainder go for further gains.