GBPAUD short term sell into 1.97 (SEE DESCRIPTION)
GBP/AUD has spent the last few days in the price range 2.033 -2.011.
The significance of this range is that is is an area of inefficient price delivery on the Buy-side of the market (see Monday 6th April 2020).
Once price reached that level, buyers who were only willing to do business at these levels now can price in their orders.
My trade idea is to those SELL to those willing buyers at a premium.
The failed higher high + the crack in correlation with EUR/AUD suggests that price has changed its state of delivery and now seeking key levels on the Sell-side of the market.
I look to sell at the first available retracement and cover my position (buy it back) at the short term lows at 1.97.
The significance of this range is that is is an area of inefficient price delivery on the Buy-side of the market (see Monday 6th April 2020).
Once price reached that level, buyers who were only willing to do business at these levels now can price in their orders.
My trade idea is to those SELL to those willing buyers at a premium.
The failed higher high + the crack in correlation with EUR/AUD suggests that price has changed its state of delivery and now seeking key levels on the Sell-side of the market.
I look to sell at the first available retracement and cover my position (buy it back) at the short term lows at 1.97.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.