There should be one more move up towards 1.71 before we even consider taking a short.
I hope to see a low breakout to the upside before reaching 1.71.
That will confirm the weakness before we go short.
The safest confirmation will be to see a mid/high , high spread candle closing on the lows after hitting the PRZ.
EP: 1.71 (Be patient for some reversal candles before entering short)
SL: 1.7250 (150 pips)
TP: 1.65 (Prior SNR zone)
Watch 1.7150 for reaction before going short.
No need to panic as long as this downsloping ED channel is not broken.
Last week, there were a few pieces of good GBP news which failed to push GBPAUD higher.
With that, the path of least resistance is down and I expect GBPAUD to get closer to my targets around 1.68.
1st TP will be at 1.68 which is about 70 pips away.
Will keep half my positions to swing for 1.65 which is another 300 pips away.
Those of you who followed me on this trade, congrats!
Contented with a 350pips profit.
40pips more to go.
Continue shorting, shark pattern hit top of ED channel before dropping again. This move could break 1.68. However, I might choose to TP before NFP tonight.