GBPAUD - New trend forming?
- We can see a large bullish pin bar last week that began a short term reversal
- This pin bar also burst through the Bollinger band and looks to have been Bearish exhaustion
- We then saw price make a new higher high and reach the previous event area of 1.84 and then pulled back to find support at the 1.82 level
- A new bullish pin bar was formed at this level and now we enter a LONG position
- If price breaks out from 1.84 we will add more to the long.
- The previous event area of 1.9 is the Initial target
- This pin bar also burst through the Bollinger band and looks to have been Bearish exhaustion
- We then saw price make a new higher high and reach the previous event area of 1.84 and then pulled back to find support at the 1.82 level
- A new bullish pin bar was formed at this level and now we enter a LONG position
- If price breaks out from 1.84 we will add more to the long.
- The previous event area of 1.9 is the Initial target
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