Sell limit on GBPAUD at 1.82888

I predict price will reach the rectangular zone that previously had been tested as previous resistance, it's also in line with my parallel channel giving more validation that the market will push down after reaching that area.

Transakcja zamknięta: osiągnięto wyznaczony cel:

CANCELLED PENDING ORDER- TARGET REACHED IN MARKET EXECUTION FOR 40 PIPS!

Komentarz:

(For my journal) Never analyse the 15 minute chart, some may be able to, but I am more confident on the higher timeframe, look for entries in the 15 for re-entries.

In upwards or downward trending channels, wick tests are important, because isn't always forced to always tests a major level. Within most channels or trends, there are also mid- levels. these show price smaller tests which are just as important in establishing the direction price will go in the future.