This is GBP/AUD chart on the daily timeframe. if u take a close look you will see that the price is moving perfectly in a sideway between absolutely 2 strong resistance and support no break for months so far.
Trading the sideway if very fun for me because i know the price boundaries and the stronger these boundaries are the less risk you take in trading the sideway movement.
in the GBP/AUD case i will enter a buy trade @ 2.04600 u can wait and enter directly or you can sell a limit order just like me to make sure that u enter the trade even if you are sleeping.
regarding the target usually the space between the support and the resistance is your target but for me taking between 300 to 400 pips will be enough i can't wait longer that this :)
Trading the sideway if very fun for me because i know the price boundaries and the stronger these boundaries are the less risk you take in trading the sideway movement.
in the GBP/AUD case i will enter a buy trade @ 2.04600 u can wait and enter directly or you can sell a limit order just like me to make sure that u enter the trade even if you are sleeping.
regarding the target usually the space between the support and the resistance is your target but for me taking between 300 to 400 pips will be enough i can't wait longer that this :)
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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.
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.