We have twopossible positions on the 
GBPAUD
If price touches either of the area, the other becomes invalidated. In other words, if price touches the red area, the blue becomes invalidated and vice versa.
1. If price touches the blue/red area, check if there is divergence on either MACD or stoch. If step 1 is fulfilled, continue.
2. If step is 1 fulfilled, we want to see either a double- bottom , top or w/m pattern forming on 15m or 5m. Will demonstrate those patterns when the time comes. If step 2 is fulfilled, continue.
3. TP/SL will be set when necessary price action takes place in those areas. We will always wait for pullback no matter what. No pullback, no trade. If step 3 is fulfilled, continue.
4. Long when PRICE makes higher high/lower low. If it doesn't and instead makes lower low/higher high, abort this potential LONG/SHORT.
GBPAUDIf price touches either of the area, the other becomes invalidated. In other words, if price touches the red area, the blue becomes invalidated and vice versa.
1. If price touches the blue/red area, check if there is divergence on either MACD or stoch. If step 1 is fulfilled, continue.
2. If step is 1 fulfilled, we want to see either a double- bottom , top or w/m pattern forming on 15m or 5m. Will demonstrate those patterns when the time comes. If step 2 is fulfilled, continue.
3. TP/SL will be set when necessary price action takes place in those areas. We will always wait for pullback no matter what. No pullback, no trade. If step 3 is fulfilled, continue.
4. Long when PRICE makes higher high/lower low. If it doesn't and instead makes lower low/higher high, abort this potential LONG/SHORT.
Note
Price touched the blue area. Divergence is visible and the w-pattern is completed. Going to wait for a break of significant pullback before we go long.Note
failed
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.