Disliked{quote} {quote} GBPAUD May 09 D1 swing trading: ahead of Friday data release. {image} one new basket 2 open positions with stop and limit orders, average entry price 1.8588 {image} take note of the TDI RSI Price Line re-enters its Volatility Band blue band, potential sideways ranging condition unless that fades away.Ignored
Hope you have a good day. I just want to discuss to understand your view/analysis on GBPAUD Short swing.
1. In weekly TF, I see that we on uptrend with HH HL and price is on EMA10. So in my opinion, D1 short swing is a pull back trade. But this is a potential Short trade because (1) we near a Monthly confluence resistance and (2) on Daily TF, we had 3 consecutive bearish candles. So we will jump in down momentum when price retrace. Is that right?
2. In next days, forecast of economic news about GBP seems bad
3. This is aggressive mode for TDI with Green crossed Red in down move, above 50, above MBL.
My sumup: it is a pullback trade on D1, but the entry is potential so we will take it. Bull market makes money, bear market makes money.
Best regards,
Son Nguyen