A Golden Zone Fib Pullback to 50-38.2%. Very bullish momentum.

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https://www.tradingview.com/x/E4xvzZyh/

The Pound is on fire lately with strength to the upside.

This is educational post to show where a buy order could be placed between 50-38.2 as low as possible.

Stops could be placed at swing low area 1,97.85 (tight)

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Long Trade GBP AUD. See narrative above and chart.

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GBPAUD is not overbought on important daily and weekly chart but on the 1,2,3,4HR charts its' some figure very close to 100% overbought.
Why it overstepped Fib zones and went lower, I think it took the stop loss.
This is bullish like the others but overbought intraday and price will probably chop about too much. Then continue upwards.

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Another Australian Dollar Trade from yesterday I took.
AUDUSD Short.
Oze rally looking tired and back in a bearish position from the daily 200ema.
Often a trade will not go the intended direction and will make a false break. That way its' easier to retrace price and stop-hunt occurs in a zone taking traders out of positions.
That is sorta what happened yesterday when I went Short, price made a bullish rally for quite a while but I could see that it was going to fizz out and turn back down. I removed my Stop, which is what I do. Today the trade 2 x I took Short are in the-money as price has turned around to continue the bearish trend.
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