3rd consecutive 61.8 retracement.
Going long and hard in this one.
Not going to be greedy, so im looking to take profit around the 23.6 area.
Waiting for a break to confirm, and or a nsl (new structure low) on the 4hr chart
Previous Support turning into Resistance of Trading Range that experienced breakout + measured move. Also, confirmation as 50 retracement area of fib tool. Watch for confirmation of candlestick and take short position with risk reward for first target as 1:1 and the second target as 2:1
Convergence of multiple signals - past half of pitchfork & inner channel, momentum to bottom of channel and moving average indicates short sell in the daily time frame. Exit once price touches channel. Don't wait for close.
I see the opportunity to trade GBPAUD
it is going down now
the risk reward ratio is 2.16 which is very good risk and reward
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