I’m in the 2nd of two trades with NZD CAD. The first one achieved target above the Fib level at 0.8471 and the second one took on at 0.84685.http://www.strobot.rocks
Ok so we have GBP GDP figures this morning and I have been looking for a suitable trade. GBPUSD is of prime interest, I’ve used STROBOT’s set up on it and the chart to take an entry order after the last support @ 1.70360. You can see that the pair has been in a bullish trend for a whole but has been dropping with USD strength.
My stop is at 1.69612 Strobot’s suggested stop and my TP at 1.71908.
This is purely a manual speculative trade. I want to give the pair room to whipsaw which it probably will. thus my entry is 42 pips from price. This pair can move a lot of pips.
So target is 145 pips from my entry but we have to get 42 pips up first. With this pair this is absolutely not a problem and a 200 pip move is not uncommon, the last was on the 12 of June.
STROBOT decided he’d take a LONG GBPCHF!!! 2 minutes before news – a much better choice I think.
Overnight the GPBAUD pair railed up against my trade. Right now it is returning back down from whence it came.
As you can see from this daily chart, the SignalTrader Massive (that’s the bottom indicator) is showing divergence where the price has been going up but BOTH AUD and GBP are falling. This NORMALLY results in a reversal of price, so the price will fall and be drawn to the downside by both pairs falling. At present GBP has become weaker than AUD we’re just waiting for the break.
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Here is the image I’m talking about at the start.
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