GBPAUD - Reversal confirmation?
I think that GBPAUD may initiate a reversal in the next hours or days. My idea is that the price will reach the 23.8 fib level in a first time then possibly reach 1.8250 somewhere between 23.8 and 38.20 fibonacci levels. Why between? Because there is a trend line that might stop the bearish trend.
I have 2 trades ideas: Both with a stop loss at 1.8770 above the top of the channel identified.
1. Entry at 1.8600 with a take profit at 1.8250. Partial profit can be taken as soon as price reach 23.8 fibonacci level. Stop loss will be moved to break even at this moment.
2. Entry at 1.8650 with a take profit at 1.8400 right before 23.8 fib level. Partial profit can be taken when price reach 1.8500. Stop loss will be moved to break even at this moment.
I have 2 trades ideas: Both with a stop loss at 1.8770 above the top of the channel identified.
1. Entry at 1.8600 with a take profit at 1.8250. Partial profit can be taken as soon as price reach 23.8 fibonacci level. Stop loss will be moved to break even at this moment.
2. Entry at 1.8650 with a take profit at 1.8400 right before 23.8 fib level. Partial profit can be taken when price reach 1.8500. Stop loss will be moved to break even at this moment.
Trade fermée: cible de profit atteinte:
TP reached at 1.8250: +350 pips
Stop loss ar break even
Final target: 1.8250