GBPAUD Buy - double bottom formation and reversal potential
GBPAUD formed a double bottom formation, characterized by a high-volume bullish candle. This could potentially indicate a retest of the previous resistance level and a high probability of forming a reversal wedge, ultimately leading to a breakout above the major trendline. In this scenario, we have established both a short-term and long-term target price.
Trade closed manually
Closed at the entry with small profits.Trade active
reenteredTrade closed manually
Closed with a small loss.Trade active
reenteredTrade closed: stop reached
Closed the full trade, the setup is invalid now, will seek another setup later.Note
Note: did too many reenters in wrong positions, revenge trades.
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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.