GBPAUD breaks VI

Afternoon Dynamic Traders

As mentioned in Monday's blog, I was awaiting a VI BOB of the 4hr GBPAUD. The daily chart suggested further weakness and I used the lower timeframe for entry as I could see the 4hr VI was a potential threat on the horizon. As you can see on the chart, price hovered around the VI until yesterday afternoon gave the awaited VI bob. ESLT was applied for entry and price has since triggered the trade, broken the next support area and hit my T1. I am now risk free on this trade and managing my profits nicely. Price has moved around 200 pips today, so a breather after this big move down could be due.














The JPY 1hr trade I mentioned yesterday did a FBO downwards and then bounced back up into the triangle. As a SM trader, the ESLT tool would have have protected your trade from being triggered. For me this set up is looking less appealing now due to the long consolidation it's having. Also, the support level just before 89.00 seems to be maintaining it's strength, at least for now. So instead I've put the 4hr/Daily back on my watchlist - awating a more definite bearish signal. Patience for a swing trade on this one.

Wishing you all a great day of trading!
Sonia Molina