GBPAUD I am going to set where take profit

1 thg 10, 2015

Following the bearish pattern, I bought last week in the highest demand level marked in the chart and closed the trade with +364 pips of profit. My sell order was set to 2.1988, 2 pips under the price entry marked in the chart (purple line).

Following the Trading Plan, the trade was in running for the whole week and now it is going deeply in the weak demand.

The target is 2.12, expecting that the price action can take out the weaker demand. Another exit point that I take in consideration is 2.13, expecting there a new Lower Low.

This is the result of my trading plan and the trading ideas that I had published in the last days about GBPAUD.

A mentor of mine uses to say:

"If you don't have a plan, you don't have a trade" ~ Nathan Mitchaud.

I totally agree with him, considering that potentially I could get in total almost 1000 pips of profit following the trading plan.

Thank you.

Girolamo Aloe