GBPAUD 4hr Long Trade Opportunity
Possibility of upside move resumption in wave (3) of iii of (iii).
Wait for break of the triangle formation and prices closing above the triangle and 4 hr bullish candle being formed above the triangle after break of triangular resistance line.
Entry point: 1.8
TP1: 1.839 (between 1.618 and 2.618 extension level of wave (3) of iii of (iii) --> 50% position
TP2: 1.856 (below the 1.618 extension of wave iii of (iii) --> 25% position
TP3: 1.885 (below the 1.618 extension of wave iii --> 25% position
SL: 1.77 i..e below the triangle support line
Move SL to 0 after hitting TP1
Before entering ensure that - prices close above the triangle - there is atleast one bullish candle opening and closing above the triangle - EMA is below the candles -Stoch is above 20
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