Gbp/Aud

[Tanveer333]

I guess ur SL got hit and still the 1.7480 is a valid target. Timing is everything in Forex. U can be on the right side of the trade but if u are at the wrong time is more painful cause u risk to see ur SL hit and then the rate action to go for your target. This is very difficult (impossible if u ask me) to manage when u trade on 15 min chart. I never look on less than daily chart and mostly I use weekly for my trades. This does not make me a better trader but helps me to avoid intra-day volatility.
Don't worry, you may lost a battle but not the war. Keep fighting Zappa

[Asif777]

That's interesting. I have a long going with this at the moment and currently about 300 pips up. Yes I see the bearish divergence, but the bearish blip we had yesterday might have been it as it's in a strong uptrend. I don't think I'll close the trade just yet.

[Hanif484]

Hello everyone

Looking around what's new on the FF forums, I noted this thread dedicated to GBP/AUD and I could not just passing by without share with you my view on this pair as I see a top around 1.7400 level and mostly a bearish divergence with the RSI on the daily chart so I think it's time to short this pair. If someone is interested to a more accurate analysis of this pair and also to see my chart, you can find it here

[Tanveer333]

GbpAud to test 1.72000 LVL, IMO..... I marked my charts in morning & it played out pretty well.... climed +80 pips in time, thanks to claimount count data! Awaiting for it to break out of wedge pattern. If it happens that it break's out of wedge pattern, then probability of testing 1.72000 is pretty much assured. But always be caution on any trading plan, as market is BOSS!

[Hanif484]

Well in this period he had some neg trades, the rest non or less..maybe there is a personal reasom or whatever

[Asif777]

Quite obvious, but only if you care to actually read the trades & look at the chart at the same time!

You tell me what happened, trade is SELL and market goes up

[Tanveer333]

May be some rules had been changed since that time

Edit: pardone, look at the wrong post date (small screen)

[Asif777]

What is the point of posting that link?

There is no access without joining so hopefully this is not promotion for personal or commercial gains or else you will be banned!

[Hanif484]

I am short this pair from 1.5785 (Oct 4, 2012)
Fundamentally, the GBP is in trouble short term to mid term.
Aussie will hold value.
I had 3 short positions from October. I closed 2 of them for nice profit.
The swap interest on this pair is very nice.
Positive stop loss = no risk of loss to original principle.
In a short time, the interest will be larger than the principle and the position will be pure house money.
I have been selling into every rally and booking short term profits.
I see no reason to change this pattern at this time.
I use this pair as an interest bearing savings account by placing long term positions.

[Tanveer333]

I am placing a few small test sell orders at resistance areas that are likely to hold as a ceiling.
Stop loss is placed above resistance.
downside target is 1.4300 price.
My stop loss is just under the 1.4800 price.
The entry is around 1.4735 or so.
Risk of loss if price breaks up above 1.4800 would be around 50, 60 or 70 pips, depending on where you place your stop loss.
Risk of reward to 1.4300 price in the future would be over 400 pips profit.
Risk to reward to acceptable to me for this position.