Trade of the Week – 06-10-2024 – GBPAUD

Weekly Highlights and Performance Overview

Welcome to our “Trade of the Week” page! Here, we spotlight the standout trading signal that delivered exceptional results for our members. This page serves as an educational resource, showcasing the performance of selected trading signals and offering deep insights into the strategies that led to their success.

Featured Trade Signal

https://signalsoracle.com/wp-content/uploads/2024/10/GBPAUD13Oct2024.jpg

Date of issue – 06-10-2024

Pair – GBPAUD

Entry Price– 1.9475

Stop Loss – 1.9516

Take Profit 1 – 1.9434 | Reward to Risk Ratio – 1:1

Take Profit 2 – 1.9352 | Reward to Risk Ratio – 3:1

Result at a Glance

Outcome – Hit Both Targets

Note: This trade was shared with our members last week as part of our weekly signals service. For more details, view the original signal here.

Strategic Insights

• Target 1: Set a 1:1 reward-to-risk ratio to ensure a breakeven point.
• Target 2: Set at a 3:1 reward-to-risk ratio, allowing for a maximum profit before the end of the week.

Market Conditions and Analysis

GBP was bullish in the early part of the week. However, as expected, when it reached 1.9475 against the AUD, it met with resistance, which then turned price down to our two targets.

Summary and Learnings

Well executed plan with good analysis and risk management in place.

Interested in more trades like this? Sign up for our premium membership for real-time access to our trading signals and in-depth analysis.