Bearish GBPAUD for the next hour. Trading within the cycle
1. Hit a recent high. We except bears to correct to a certain bottom.
2. We are fighting the main trend though - trading within the cycle!
3. Prices were fought back by bears as seen from the candle at the recent high, implying strong resistance level.
2. We are fighting the main trend though - trading within the cycle!
3. Prices were fought back by bears as seen from the candle at the recent high, implying strong resistance level.
Trade active
Note
Low probability trade, but we want to test if our analysis is correct. Expecting a correction of about 15 pips if trend is truly bullish!Trade closed: stop reached
Hit Stop. Did not reach our required movement downwards - will continue to monitorNote
Interesting. It went bearish way beyond the hour!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.