GBP/AUD are bouncing strongly of the weekly trend line. The price itself is trending a little bit higher on a weekly basis. This is a trade with pure price action and simple trend line, no other indicator is used in this analysis. This is an aggressive trade if you wanted to follow. Entry price varies from your trading timeframe. But I'll suggest the SL should be below the trend line around 1.6130-1.6170 and potential profit target at 1.7600 at the last weekly swig high.
Please do not trade a big lot size because you see a potential 1000 pips and don't risk too much of your capital on this trade. If this trade didn't come out as we expect, your downside would be 300-400 pips loss which can be unbearable for some trader with an oversize position.
Please do not trade a big lot size because you see a potential 1000 pips and don't risk too much of your capital on this trade. If this trade didn't come out as we expect, your downside would be 300-400 pips loss which can be unbearable for some trader with an oversize position.