Friday, May 16, 2014

The Bears may not be done with GbpAud yet.

On 4th May, I forecast a bearish move of this pair and the move was just right. I hit my secong target with 350pips and the last part of my trade was stopped at +235pips. Not a bad result at all.

The downward move was quick and massive, broken the first trendline (in magenta colour). 

At the moment of typing this information, price retraced fast to retest this trendline and a sumptuous pin was formed on 4H and 1H with a Gartley ABC correction of the last bearish move.

I will sell from here and hope I can take my full target at 1.7500 but I will take profits along the way and ride with the trend if market decides to move this way.

Please let me know if this blog has been helping someone by your comments  and you can also contact me if you need a trading partner,mentor, fund manager  or  Get 1 year free signal and trade what I tradee-mail-sanmiadeagbo@yahoo.comFacebook- sanmi Adeagbotwitter- ForexelytePhone no: (234)08134820569

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