AUD,NZD/GBP crosses/Trade Ideas

GBP/AUD trade update: Short position cut for a small loss

This idea was from Friday last and due to the upcoming RBA statement and the lack of momentum on the trade, he has decided to cut the position for a 20 pip loss and re-assess. Wise man me thinks.

  1. What I mean is I have no idea whether if goes up/down but having a technical trade during risk events can be dangerous, esp if as he says, the trade idea is losing momentum

  2. G’Day, I can afford breakfast after all !….glad I wasn’t around on friday I might have wobbled a little ! Still have all my positions except got GBPCHF taken out on a trailer but had a good run. Have increased GBPAUD a few times and will add more on a close around this level; I have just started a long AUDNZD at 1.2433 and will add every 25 points down to 1.2300 and then have a look; think its started to get rather overexcited in a 5 week decline and see a correction target 1.2750

  3. Yes I saw; I have been in at a good level and am quite committed to it ! However I still want a consolidation of that cross up here. Agree with your synopsis of AUD and looks like we could get a shove down to 1.0230 ( just think the kiwi should catch up); I also was very jammy and got some more USDJPY on an order below 77.50 ! so I actually have a GBPJPY from the legs !

  4. For anyone reading my comments I should point out that I usually don’t enter a position unless I have a good stop loss say 200 points away and am also looking for a potential 2-3:1 r/r often more

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