GBP crosses/Technical Analysis/Trade Ideas

GBP/AUD trade idea

This is a medium-term technical trade strategy from a professional technical analyst based in Singapore.

He has gone short at 1.5540 with a s/l at 1.5655 and a minimum take-profit target at 1.5290. His signals are based primarily on statistical measures which give indications as to whether a pair is over-bought or over-sold, mainly on the 4-hr timeframe.

  1. I will stay with my opposing view…I would be surprised if the market is heavily long of this…I am long at 1.5540 will add every 50 pips down to 1.5290 s/l at 1.5245; target 1.5920 for starters. Basis part technical and would rather have stg than aussie in current environment

  2. Of course I know 🙂 He’s the Mr. Patience. And I know how he trades. Still, ‘the Guru’ is my fav fiction fx character 🙂

  3. I will in my own inimitable style buy more on the way up as well…nothing like ruining a good average !!;-) and my r/r is much better

  4. at least ! the risk sentiment overnight may have tipped to where the big fellas sound more believable…imo…the opp to buy euros at 1.2830-50 last night was a gift….price action was obvious…wouldn’t be surprised to see a surge to test 100 pts higher in everything…if cable breaks 1.63 convincingly I can’t see aud keeping up….

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