GBPAUD - Trend-Following Setup!
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
GBPAUD is overall bearish trading inside the brown channel, however, it is now approaching the upper brown trendline acting as a non-horizontal resistance.
Moreover, the zone 1.81 - 1.83 is a strong resistance zone .
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper brown trendline. (acting as non-horizontal resistance)
As per my trading style:
Since GBPAUD is around the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GBPAUD is overall bearish trading inside the brown channel, however, it is now approaching the upper brown trendline acting as a non-horizontal resistance.
Moreover, the zone 1.81 - 1.83 is a strong resistance zone .
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper brown trendline. (acting as non-horizontal resistance)
As per my trading style:
Since GBPAUD is around the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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