Hi Traders,
Today I see a setup on Pound Aussie for a potential swing short which could yield a great return if patience and great trade management are applied.
Price has clearly rejected a higher time frame Resistance and we are now looking at price pushing to the downside. I would like to see price take out the current support at 1.76580 where we can then wait for solid entry confirmations.
If price closes above current support It may push to 1.7720 where we could look for entries as well in anticipation of price breaking the immediate support of 1.76580.
Target one is at 1.7500 where I will secure 50% to 90% of my position depending on how price action forms.
Let’s wait for the setup to come to us. NO FOMO!!
Renaldo Philander.
Today I see a setup on Pound Aussie for a potential swing short which could yield a great return if patience and great trade management are applied.
Price has clearly rejected a higher time frame Resistance and we are now looking at price pushing to the downside. I would like to see price take out the current support at 1.76580 where we can then wait for solid entry confirmations.
If price closes above current support It may push to 1.7720 where we could look for entries as well in anticipation of price breaking the immediate support of 1.76580.
Target one is at 1.7500 where I will secure 50% to 90% of my position depending on how price action forms.
Let’s wait for the setup to come to us. NO FOMO!!
Renaldo Philander.