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GBP/AUD Showing Signs Of Major Reversal

By CurrenciesMay 21, 2013 10:11AM ET
www.investing.com/analysis/gbp-aud-showing-signs-of-major-reversal-167868
GBP/AUD Showing Signs Of Major Reversal
By   |  May 21, 2013 10:11AM ET
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AUD/JPY
-0.36%
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GBP/AUD
+0.98%
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One of the things I've been guilty of lately is trying to go against the trend on the four-hour chart (though with the trend on higher timeframes, like weekly). I may have committed the same crime again, though, as I'm seeing reversal candlesticks at resistance on the daily chart, but I think it was worth a shot. I'm also in a long AUD/JPY trade at the moment, which is also showing AUD strength.

Targets
The black line in the chart below illustrates my entry point; the red line reflects the stop loss and the green line shows my target profit.

<span class=
GBP/AUD" width="1232" height="656">

GBP/AUD Showing Signs Of Major Reversal
 

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GBP/AUD Showing Signs Of Major Reversal

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Comments (1)
karthik sharma
karthik sharma May 22, 2013 11:34PM ET
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yesterday i went short on this pair but its kind of reverse, do u strongly think it will come down to hold the trade
 
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