GBPAUD: Critical juncture

25 ธ.ค. 2015

GBPAUD is approaching the yearly MA, and also about to complete a downtrend signal in the daily chart.
It's possible that shorts will be unwound soon, by year end, we might see a large short squeeze rally in this pair, and maybe even the opening of new institutional longs for the new quarter.

I'm really interested in entering with the tightest stop possible, so I'll be monitoring this for entry on the long side.
If the yearly MA were to fail to contain the decline, then GBPAUD is in very bad shape and we can expect continuation to meet my weekly downtrend targets, around 1.98 or close.
For the time being this looks like a large W bottom setting up, and has more positives than negatives for longs, so I'll attemp to ride the upcoming trending leg up.

Cheers,

Ivan Labrie.

25 ธ.ค. 2015

บันทึกช่วยจำ

mql5.com/en/charts/4399853/gbpaud-w1-fx-choice-limited-weekly

28 ธ.ค. 2015

บันทึกช่วยจำ

Long 2.05776
Target 2.1404
Stop loss 2.04410
Half position size.

29 ธ.ค. 2015

บันทึกช่วยจำ

Monitoring for long entry.

4 ม.ค. 2016

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Going long if it retraces a bit more.

9 ม.ค. 2016

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We can rejoin this trend many times, seems fairly strong.