FX.co ★ balut | OnePoint‎'s - Trading journal (2)

GBPAUD MARKET ANALYSIS UPDATE
Every trader should be very careful today as this day is the last day of this month and eccentricity of the market could be highly volatile on especially on the big volume currency pair markets. Hence, having carefully searched and analysed the gbpaud market I have decided to see how the price movement will react to the upper and lower limits at 1.8714 and the 1.8600 area. Therefore, I will only trade the pullback or retracement of the price movement after first moving to 1.8714 from 1.8760 and therefore going upwards again to 1.8714 to have a take profit at 1.8751. What's your trading views and objectives for the gbpaud market for today?
That's a wise decision to wait for pullback because it's uptrend and the downward retracement is due to positive report in AUD Building Approvals m/m and later on it will fade. I'm on a long term uptrend for GBPAUD and other GBP pairs because it's crystal clear how their bullish technical analysis resonates across the board. I'll wait for the monthly candle pattern for GBPAUD and decide if I'm going to do trend following or counter trading trade with respecting target at 1.9000 or 1.8550 area.