GBP/AUD Long Idea 8.1.18
Looking for a trend line bounce on this pair. Accumulation taking place around the 1.802 - 1.805 level. Entry placed at 1.804 with a stop loss at 1.7995. Price is far from both TK and KS on the 1hr level and I want this pair to rise up to both of these levels around the 1.809. If price rises to this level, the 4hr outlook on this pair should see this pair use the 1.809 level as support and push up into the kumo cloud. If this pair breaks the flat kumo level of 1.8155, I will look to hold this pair for a while. Both the Daily and Weekly timeframes are in a bullish outlook for this pair. Take profit for this trade is a bit open due to the fact that price can make a TK cross on the weekly level and maybe push price past April '18 highs. Possible teacup and handle on the monthly level also could push price to higher highs.
Entry: 1.804
SL: 1.7995
Possible TPs:
1. 1.81576
2. 1. 83912
Entry: 1.804
SL: 1.7995
Possible TPs:
1. 1.81576
2. 1. 83912
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