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GBPAUD Swing Trade Cont. (Jan 11)

Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today

I posted GBPAUD Swing Trade setup last week.   However, the expected down move has not started yet.

Since the base is Daily chart, we may have to wait some more, until we can enjoy the down move.

Here is the basic setup on Daily chart.


Basically I am expecting the price will fall from the current Role-Reversal resistance level, with Stochastic (eventually) turning down.

The additional news is… on H4 chart, I now see Bearish Divergence on Stochastic.


This is a good sign!

For the entry, let’s move to M15 chart.

The price is still up trend on M15 chart, by making higher lows.

Thus I will wait for Lower Low (by breaking out prev low of 2.0740), then try to sell from the re-test.


Stop should be a bit higher than Prev High (2.0995).

The target?  I would like to say MS1 (1.9667).   But Psycho level of 2.000 may be a nice conservative target as well.


Hope this setup helps you build your own.


YJ Baik – Forex.Today @ Tokyo





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