GBPAUD - Perfect confluence - up we go!
Updated
As you can see from the chart we have taken a nice buy position on this pair. We have the bearish trend which has been respected for some time now on the higher timeframes. This broke out and it was a matter of time before we saw some action to get involved in the next trade. We can see on the lower 1hr timeframe we have created a nice little bullish trend which matches perfectly to a good level of structure and the 50% fib. So, we have 3 confluences, 3rd touch trendline, good level of structure and also the fib. All of these lead us to believe the market should see a nice upward momentum.
Please drop your thoughts and comments below :)
Any questions don't hesitate to ask.
Please drop your thoughts and comments below :)
Any questions don't hesitate to ask.
Note
Beautiful trade this we waited for London open and the pair flew in the right direction
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