GBPAUD Trade

Randy BalcomTrades

There is a upcoming trade in the GBPAUD pair, and here is the methodology:

The weekly chart is showing strength with a slight pullback. Price is also in a Dynamic Zone to the upside.

On the daily chart we have a trade to the upside that has already triggered. However price is pulling back and looks to be finding support at a dynamic level.

The trade would be to place a stop order 10 pips above current price with a stop below the 2nd zone at 1.7185 and a target of 1.7940.

Obviously, this is a large trade so watch your position size!

Forex Risk Disclosure

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.