Another signal in the GBPAUD
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.
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:
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:
These are the details of my order:
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?
What currency pairs are you monitoring?
What do you think about my GBPAUD signal?
Are you going to take it?
Share your thoughts.