GBPAUD Short Swing Trade

I have seen this pair come up to this very interesting level where price has broken and now is looking at testing that area. After a massive drop in price, there seems to have been a slight retracement into this level and yesterday's daily candle has closed in the form of a bearish engulfing candle.

I will be looking for a retracement entry of this bearish candle with my stop loss above the wick highs and a profit target of 1:4 and next structure.

Best of luck with the charts

Handel aktiv:

Morning All,

Little update on this idea, we managed to get filled in during Tuesdays Asian session and closed the day in the form of a doji indecision candle which still validated the trade.

However, yesterday we had some pressure from the bulls pushing the market up but still rejecting higher prices.

I would like to see some pressure from the bears to move this market down to create a bearish week on this pair and test my profit structure level.

Best of luck if you took this trade!!!

Trade stängt: Stopp nått:

Unfortunatley we are taken out as prices look to push higher closing us out.