GBP AUD has a clear downtrend but as we come ever closer to the weekly and monthly level - we need to be careful.
Note our trade is risk free: - we are just awaiting the market open - ofcourse if there is a gap down - expect a possible attempt to fill the gap.
We have a strong supply at 0.236 on the four hour. Not the Stop loss is the number of pips we wish to enter. price will change, this is just to show our range of where to enter.
There will be a retracement, however with fundamentals in play this can be ignored. Always have two scenarios in mind.
COT report; GBP shorts added on the COT report against the USD, the final push down the demand zone will occur. just await price action.
Happy Trading this week ahead. We will update accordingly.
Lupa.
Note our trade is risk free: - we are just awaiting the market open - ofcourse if there is a gap down - expect a possible attempt to fill the gap.
We have a strong supply at 0.236 on the four hour. Not the Stop loss is the number of pips we wish to enter. price will change, this is just to show our range of where to enter.
There will be a retracement, however with fundamentals in play this can be ignored. Always have two scenarios in mind.
COT report; GBP shorts added on the COT report against the USD, the final push down the demand zone will occur. just await price action.
Happy Trading this week ahead. We will update accordingly.
Lupa.