GBPAUD Market Outlook | Daily Forex Market Breakdown
GBPAUD
Breaking down GA as it was requested from one of our forex alchemists! You ask and I will deliver!
As you can see in the technical analysis above GA has been a bit tricky. We experienced multiple fake outs to the downside which is expected. This is why you don't just jump into a trade when all you see is a simple break of a trend line. I always say there is a lot of confusion in the market around trend lines so always be cautious.
After the fake outs to the downside GA pushed up quite a bit then showed us a beautiful double top. This is where more experienced traders would have taken shorts. I personally wanted to see price push up a third time giving us a clean entry! Remember there is always another entry or a better trade right around the corner, never rush things! Only gamblers force trades, we are focusing on becoming the best forex traders possible to make this a reality you need to develop ridiculous amounts of patience.
Patience, risk management, and always sticking to your trading plan is the key to longevity in this market.
IT IS NOT EASY, BUT IT IS DEFINITELY WORTH IT!
Breaking down GA as it was requested from one of our forex alchemists! You ask and I will deliver!
As you can see in the technical analysis above GA has been a bit tricky. We experienced multiple fake outs to the downside which is expected. This is why you don't just jump into a trade when all you see is a simple break of a trend line. I always say there is a lot of confusion in the market around trend lines so always be cautious.
After the fake outs to the downside GA pushed up quite a bit then showed us a beautiful double top. This is where more experienced traders would have taken shorts. I personally wanted to see price push up a third time giving us a clean entry! Remember there is always another entry or a better trade right around the corner, never rush things! Only gamblers force trades, we are focusing on becoming the best forex traders possible to make this a reality you need to develop ridiculous amounts of patience.
Patience, risk management, and always sticking to your trading plan is the key to longevity in this market.
IT IS NOT EASY, BUT IT IS DEFINITELY WORTH IT!
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