GBPAUD.
09.29.2021
We DIFFERENTIATE BUCKET B trades from BUCKET A trades using the SAME CROSS.
The DAILY CHART shows a NICE TREND and an ENGAGEMENT ZONE around 1.8300 – 1.8350. This would be a BUCKET B trade. We can wait patiently for the level, 1.8300, risking 1.8250.
Another alternative, for the same cross is to look for a BUCKET A trade, a more immediate level that offers similar RISK REWARD ratios. These trades get stopped slightly more often, but for the active FX trader they offer a great alternative to stay engaged.
We usually allocate 1 unit of RISK for BUCKET A and 3-5 units of RISK for BUCKET B, that is just our process.
GBPAUD HOURLY CHART
Long with a STOP at 1.8550.
