Right now we have a nice setup on GBPAUD targeting 1.8.
This is easily a 200 pips profit potential setup with a 1:1 R:R.
Check out my video so that I can share my thoughts with you on why this is a great setup.
i am taking a 5 pips loss to reenter at a much better price. The last candle, I see strong vol resisting the current move up.
As I entered not at the most optimal price, I will be waiting at low of channel to buy in to achieve much better risk to reward.
Let's be patient and wait for this shark pattern to complete before going long on GBPAUD.
Always buy low and sell high, never chase the highs and get trapped in no man's land.
Went long in the afternoon after price challenge the low of the channel again.
Apologies for the late update.
Next move up should hit 1.8
Took profit 50 pips off the lows of the channel.
Right now there is a shark completion and i do not want to trade against the direction of the pattern.
Will be looking to buy again at the low of the channel.