GBP/AUD - Ichimoku Trade Setup- Time to regain ground?

Panjang

Paun British / Dolar Australia (FX:GBPAUD)

FX:GBPAUD Paun British / Dolar Australia

trendanalysis chartpattern indicator gbpaud gbpaudlong bullish ichimokuclouds ichimokukinkohyo ichimokuforex the808trader

This pair has held support but I am still watching for a break of resistance to enter a short term buy trade. I've drawn out my entry and TP lines on the chart. If you notice for the setup on this one, I'm actually placing my TP and SL slightly off of my lines to get things a little room to breathe since this is such a tight trade. As soon as we break into that zone and hold I'll be getting long and may even hold past this TP level with a partial position. I'll have to be careful with this one due to the Brexit madness that is going on right now so I will only be risking 1.5% of my capital on this setup to be pretty conservative. If we fail to break into that zone or hold bullish confirmations, this setup may become invalidated.

Penafian

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