GBPAUD Live Trade

Hi Everyone

I thought would post my latest live trade being the GBPAUD. this pair has basically been in free fall for a very long time now, with the short term short covering in GBP and the over inflation of the Aussie dollar and the imminent reversal/profit taking, I feel it time for this trade.

Entry -  1.6545

Stop 1 - 1.6520

Stop 2 - 1.6480

Profit Take 1 - 1.6750

Profit Take 2 - 1.6970

Runner - To be determined

Main Reasons for Entering

• Daily Support held at 1.6540
• Low risk entry of the daily chart with break even achievable quickly.
• Bottom for this pair set at 1.6250, the move away from this area has been swift and decisive
• Excellent fundamntals for this trade with the aussie due a break to the downside on softening chinese data.

Update  1 - Admin Fee Achieved

Update 2 - Break Even Achieved

Update 3 - Out at break even

In the end this probably wasn't a great trading decision, but its break even, so I can't complain.