GBPAUD Ascending Broadeng Wedge Pattern
Updated
GBPAUD of the main trend is moving in the channel. and currently the price is in the upper trendline, there is a big chance the price will go down after several times rejecting the upper trendline and the formation of the Ascending Broadening Wedge adding to the possibility for it to go down.
Maximum of 3 candles ahead the candle must have broken through the pattern and with a strong decline, if the candle has broken the trendline but does not show a strong decline you must be aware of a false break
SL: 1.8252 (67 pips)
TP: 1.805
RR 1:3
Maximum of 3 candles ahead the candle must have broken through the pattern and with a strong decline, if the candle has broken the trendline but does not show a strong decline you must be aware of a false break
SL: 1.8252 (67 pips)
TP: 1.805
RR 1:3
Note
Seen the price has broken through the lower trendline with a very strong candle (marubozu candle), confirming the price will experience a strong decline in the next few candles
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