Another signal in the GBPAUD

Forex Market

Hey Traders, how was your weekend?

As many of you already know, it was my birthday last Friday… I received a ton of emails and I really appreciate it traders…

And I want to thank you all for that!

Back to trading my friends…

You know what trading is all about right?

What’s it all about?

Its about trading the right instruments at the right time! As I said before, that’s what some traders call “luck”.

Fortunately for us there is a way of finding those traders over and over…

Now, that doesn’t mean that we are going to win all trades, its just about trading with the odds on your favor… if we keep doing the same thing over and over, at the end, we’ll get consistent results.

Ok, now lets take a look at some charts.

GBPAUD Analysis

I’d like you to take a look at the long term chart, so you know why I think the GBPAUD is worth taking a look.

Here is the daily chart:

GBPAUD 1W

The GBPAUD broke through an important resistance level, which means that it is likely to continue its way up until it reaches its next LT level, which is at 2.2790.

Now, do the math… it is currently trading at 2.1346 and it might reach its next level at 2.2790, whats the pip count?

You see why its worth watching it?

Ok, now lets look at the short term chart… here is the 30 minute chart:

GBPAUD 30M

These are the details of my order:

Entry: 2.1365
SL: 2.1310
TP: Open

We leave an open target because the next LT level is too far away…

One consideration traders: tomorrow there is an important GBP announcement, the GDP, so if we don’t have at least 80 pips on our favor before that announcement, I’ll close my trade.

I hope it gets triggered and have enough time for the market to move on our favor.

Is the trading plan clear?

Your turn

What currency pairs are you monitoring?

What do you think about my GBPAUD signal?

Are you going to take it?

Share your thoughts.

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .

  • Manvinder singh

    GBP/AUD has dropped today morning after AUstralian government decided to keep rates at 2%.

    • Raul Lopez

      That’s correct Manvinder, that’s the reason we are on the sidelines in this cross…

      Good luck!

  • Eric Aroh

    Good looking trade with tons of pips – over 1000 pips!
    I’ll be trading it.

    • Raul Lopez

      We’ll have to keep trying in this cross Eric… we’ve got plenty of profit potential!

  • Great looking trade, Raul. I found this one on Friday and stuck a trade on. Let’s hope the UK GDP Tuesday doesn’t mess it up.
    Cheers and thank you.
    Andy

    • Raul Lopez

      We’ll see what happens Andy!

      Good luck for both of us!

      Let me know if I can help you with anything else!