GBP AUD rangeWe have an update to our trade - we took sells at the rejection and are stuck in a nice 250 odd pip trading range. Neutral range - but we anticipate long term buys.
We are waiting for the break of our trend line - as the USD is gaining strength and the GBP has got alot of short orders against the Dollar.
However the Aussie has had orders shorted for the past 13weeks.
GBP with 54% short - 42,071
AUD with 69% short - AVG (13) - is 61,487
What can we see technically?
- Daily bearish but breaking momentum short in the channel.
- weekly bearish zone touched
- bounce from the demand zone zone.
- we can see the trend beginning to add long positions to correct.
- we have made lower lows and lower highs- showing the correction
- now in a consolidation zone with some great wicks formed and a reversal to the upside.
Where to enter?
Follow your plan
we entered at 1.793 and 1.794 as we could see these zones lining up with our analysis
we have further buy limits at 1.78 if price reaches the lower weekly deep retest.
we also entered sells at 1.8115 & 1.8070 respectively.
All trades risk free
Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted.
Trade what you see, this is purely our Bias.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment.
Thanks,
Team Lupa.
