See daily chart of GBPAUD below for the discussion that follows.
GBPAUD is testing resistance and showing indecision. I’m will be looking to go short if I see bearish price action / candles (confirmation) as per my strategy.
Note: The GBP pairs have been very strong lately, and with this being countertrend… if I enter, it will be with less than my usual risk size.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.