(+200) week48 GBPAUD 2nd round shorting after a retest

D1

On daily chart price has already completed a head and shoulder

week48 gbpaud d1 head and shoulders completed 011215

After the previous round of shorting,

https://nakedchartist.wordpress.com/2015/11/06/trade-in-progress-week44-gbpaud-trading-the-reversal-with-a-head-and-shoulders/

price is perhaps ready for the next downmove.

h4 011215

2nd position added
A retest of the trendline on h4 has been suggested with #trappedtrader signal being printed, after a key AUD news event.
The cons of this is that a short at current price equates a short into support.
however taking into consideration the larger picture and week to week downtrend,
this short has its merits.

week48 GBPAUD h4 trappedtraders  011215

edited 031215

power downmove for 2 days after testing identified. I will keep a mental note of this type of combination in the future.

 

week48 gbpaud h4 4x trappedtraders 031215

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s