GBP/AUD SHORT TERM LONG TRADE IDEA - 15 minute chart

Long

British Pound / Australian Dollar (FX:GBPAUD)

Updated

FX:GBPAUD British Pound / Australian Dollar

indicator

I'm looking for a pullback since there was a big impulse move to the upside, my white (8) ema is positioned well above the green (21) ema and macd is well into positive territory.

looking for pullback to the 21 ema and possible a little lower to the top of the previous resistance zone to test as support floor. if this test positive and see rejection then the macd(which is currently going down) should curl up and it will be time to enter a buy as long as the 8 doesn't cross back under the 21 ema.

Comment:

ALSO I DO NOT DO LIMIT ORDERS DUE TO YOU NEVER KNOW HOW FAR IT WILL PULLBACK - - it could pullback and not hit the 7790 but a little above it and order will never activate but if watch it every now and then you may still catch the move, or it may pullback too far activated your buy limit and having draw down...but if you watch it you can see it pullback further and get better entry as long as 8 stays above the 21 and macd stays positive when curls back upward.

note it is ok if ema slightly cross as long as macd stays above zero line and vice versa its ok if the macd drops a little under zero line as long as 8 stays above 21

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