I posted GBPAUD Swing Trade setup last week.   However, the expected down move has not started yet.

Since the base is Daily chart, we may have to wait some more, until we can enjoy the down move.

Here is the basic setup on Daily chart.

2016-01-11_15-58-46-GA1

Basically I am expecting the price will fall from the current Role-Reversal resistance level, with Stochastic (eventually) turning down.

The additional news is… on H4 chart, I now see Bearish Divergence on Stochastic.

2016-01-11_16-00-39-GA2

This is a good sign!

For the entry, let’s move to M15 chart.

The price is still up trend on M15 chart, by making higher lows.

Thus I will wait for Lower Low (by breaking out prev low of 2.0740), then try to sell from the re-test.

2016-01-11_16-01-55GA3

Stop should be a bit higher than Prev High (2.0995).

The target?  I would like to say MS1 (1.9667).   But Psycho level of 2.000 may be a nice conservative target as well.

 

Hope this setup helps you build your own.

 

YJ Baik – Forex.Today @ Tokyo

 

 

 

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