GBPAUD Short on divergence and broken trendline

On the 4 hour chart there was divergence between price and the RSI. The price did not broke the down-going trendline which was formed from 24 august 2015. Now the up-going trendline from 21 april 2016 is broken. The price is now making lower lows and lower highs on the 4 hour chart. so Risk reward is good enough for me to short the GBPAUD.

I'm just starting with publishing so every comment is welcome. I have a lot to learn.

I also will make an other publish later on a weekly of a cup and handle pattern that is formedon the GBPAUD from 2009. which will be a long position offcourse.

Make your own tradingplan, I'm not responsible for your own decisions.

Kommentera:

Trade closed: stop reached