GBPAUD - Well both levels were seen played out in terms with our expectation. If anyone shorted at the level 1.5990 would have profited 120 pips before the price bounced @ 1.5480 level where we marked potential risk of rejection. Those who took that trade, congratulation to all of you & those who missed it, doesn't matter opportunities do repeat themselves & we can always trade next setup.
Cheers!
NZDJPY - Well, well, well.....what can I say about this pair & its latest behavior ? It certainly looked very much in align with our expectation before triggering our SL level. We saw price rejection right at our expected level of 70.20 couple of times & price traded +30 pips one point of time (30 pips below our short entry) but I could not understand that last up trust, which was not normally seen in this kind of swing pattern before. I m still analyzing the reasons & potential nuances that can keep us away from this kind of setups. I took that trade & lost 40 pips. The loss could have been easily minimized by 10-15 pips but I was sleeping & could not take action to do so. If someone did exactly as I said in previous blog then might have only lost 20-30 pips (by closing manually if momentum candle close above 70.20 level, which it did). Well losses are unavoidable factor in trading, so lets accept it & move on to next setup.
Cheers!
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