GBPAUD Short Position Possibly! #100-130pips ð
FOREXCOM:GBPAUD
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Going to be shorting GBPAUD to to the next major Support level of 1.78500. ð
Confirmation:
1. Broken 4HR Dynamic Support (Continuation to the downside)
2. Broke strong support of 1.80000 and continued getting rejected with long wicks on top (Bearish Sign)
3. Getting rejected off the EMAs in the 4HR TF showing sellers stills in control.
4. Waiting for the break in the 1HR TF to confluence both the 4hr and 1hr of a broken support level.
Stop Loss placement kind of large to avoid possible stop hunts. 50 pips stop loss for 125 pip reward. 1% RISK Personally
Confirmation:
1. Broken 4HR Dynamic Support (Continuation to the downside)
2. Broke strong support of 1.80000 and continued getting rejected with long wicks on top (Bearish Sign)
3. Getting rejected off the EMAs in the 4HR TF showing sellers stills in control.
4. Waiting for the break in the 1HR TF to confluence both the 4hr and 1hr of a broken support level.
Stop Loss placement kind of large to avoid possible stop hunts. 50 pips stop loss for 125 pip reward. 1% RISK Personally