⚜GBPAUD 630pip Short?

Hello Traders, 🙋‍♂️🙋‍♂️🙋‍♂️

Here we have a GBPAUD short trade idea. If you like this idea please show your support! 😁

We have 4 confluences based on our decision for entry on this trade.

Confluences

• 3rd trendline touch from August & September
  
• Structure Level
  
• Break of 'Watch For Break' Line
  
• Double top formation
  

Since we can see a break in the WFB line we are expecting the bullish impulse to correct at least 150 pips.
Our first take profit is at 150 pips, this is because we can see the Weekly EMA approach this structure zone which has been respected two times previously.

Our final goal is 600 pips, this is rather excessive but definitely achievable. Once the trade hits 30 pips profit I move my Stop Loss to break even to prevent any loss occurring if the trade goes in the opposite direction. ⬅ This is important for good risk management

Our Stop loss is 30 pips which gives us a total RISK:REWARD of 1:21 !!! This is an absolutely insane return for the risk.

Fundamental Factors :

• Australia Protests over COVID-19 measures
  

If you want to improve your trading, do not hesitate to send me a message! 📲

Please trade with caution and make sure you set your stop losses! Happy Trading 😁

Be sure to check out my other ideas below!
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