GBPAUD Possible Breakout

3 oct. 2018

GBPAUD has broken its trendline this morning and is heading towards R1.

Worth monitoring this pair over the next couple of hours to see how it reacts on R1.

My gut says its going to be a resistance and an opportunity to catch the retracement, based upon the oversold RSI, but if it breaks R1 there could be decent upside.

One to watch.

3 oct. 2018

Transaction en cours

I'm taking a short position on this. RSI overbought (which is what I meant above, not oversold!) and big deceleration towards the R1 level.

I anticipate a downward move towards the 382 fib (1.81208) which also nicely aligns with previous trendline acting as support.

The medium term on this pair I still think is bullish so setting a tight SL (1.5:1 RR) to minimise risk.

3 oct. 2018

Note

Looking like a positive trade comfortably in the green at the moment.

4 oct. 2018

Trade fermée: ordre d’arrêt atteint

As per one of my other trades yesterday, TP was just set slightly too low. Would have been a good trade but didnt get out in time, so hit the SL and took a loss.

Hopefully someone got in on the upside as its broken all the way to the next resistance level!