#GBPAUD created a CHOCH move on the 4h chart after bouncing off the weekly resistance zone.
Once GBPAUD enters the pullback area and confirms it's continuation to the downside, I will be looking to enter a short position there with a potential target being the long-term upward trendline.
Once GBPAUD enters the pullback area and confirms it's continuation to the downside, I will be looking to enter a short position there with a potential target being the long-term upward trendline.
Trade active
GBPAUD ended up pulling back all the way to the resistance at 2.06134 but rejecting from this area multiple times. This trade is still very much in play! Keep in mind that the Flash Manufacturing PMI for GBP is in today.
Trade closed: stop reached
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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.
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.