CFTG

GBPAUD - Double Top & Divergence Hunting 1.69 handle

Short
OANDA:GBPAUD   Livre sterling / Dollar australien
Setup:
It was noted that GBPAUD could be dropping to 1.69860
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
3. Double Top

Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.78547
SL: 1.80465
SL > BE: 1.75722
TP: 1.72791

Trade 2:
Entry: 1.78547
SL: 1.80465
SL > BE: 1.75722
TP: 1.69860

*When we hit 1.75722, Our SL will be moved to Break Even.

Risk & Reward:
Total Risk:
2% or 390 PIPS

Total Reward:
7.5 % or 1441 PIPS

Good Luck :-)
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