GBP AUD LONG SCENARIOCurrently long on gbp/aud. risk to rward is very good on this trade 1:4. lets see how it plays out.
Poundaussie
GBPAUD: H&S REVERSAL CONFIRMEDHi Traders,
We have a lovely Head & Shoulders (H&S) reversal pattern here on GBPAUD. If you are looking for a short entry, see the chart above for a potential setup. The head and shoulders reversal is now complete with the break and close below neckline support. A pullback into that previous support level will give bears a solid opportunity to add to positions or re-enter short. IF we can stay below 2.0300, THEN I am expecting follow through to the downside to test 2.00 even handle.
Good trading,
Luke
Bullish Double Bottom ReversalGBPAUD seems to have made a Double Bottom Reversal. Higher prices are expected.
GBP/AUD: long playConfluences:
1/ trend
2/ 50 ema bounce
3/ doji
4/ deceleration
5/ fib play 61.8%
6/ Bullish MACD
7/ 2.145 as support
Took this trade last thursday ( Sept 17 ) but again because of this pullback today, 400 pips are still on the table, 170 pips are currently in profit. I see this pair go to 2.20
