2016-01-21_00-29-20gbpaud

Dear all,

This gbpaud dollar chart shows a live trade. It has the purpose to show where a trader might put his stop loss and why the trade was taken.

We would be always better of to trade in direction of the trend and a trend may be trending for quite some time.

Please consider when you analyse a chart to see what price action is telling you.

I see as displayed with the arrows constant lower 123 patterns. You might call it also lower lows and lower highs which would be a definition for a bearish trend.

On a side note we also see gbp with other pairs going down / loosing value which gives us confirmation in taking a short on this pair.

Taking our analysis  one step at the time I hope we might all improve our trading.

BEST OF PIPS

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