GBP/AUD: Double Bottom; pull back
Updated
Great Britain Pound/Australian Dollar forming an interesting Double Bottom here, and right now, the price it's making a pull back in this zone. Talking about the H1 timeframe, we see that GBP/CAD look into this bullish setup. I draw this diagonal up line that mark a psychological point that we couldto put a buy order place in the smart zone. For me, I'm very sure that GBP/CAD forming and ending this pull back confirmed to long position. I put my buy order place in $1.7024 CAD, Stop Loss to $1.6977 CAD and take profit to $1.7226 CAD, also I suggested when GBP/CAD in this way in the up trend, it's necessary to monitoring this trade if we see any rejection in the half of this way.
Based in H4 timeframe, we're in the bullish setup right now and GBP/CAD can to reach this reaction zone in $1.7236 CAD approx that I mark using block orders to analyze it.
So, that it's all for this analysis what I see.
I hope that this idea support you and trade this opportunity in Forex market for this week.
Based in H4 timeframe, we're in the bullish setup right now and GBP/CAD can to reach this reaction zone in $1.7236 CAD approx that I mark using block orders to analyze it.
So, that it's all for this analysis what I see.
I hope that this idea support you and trade this opportunity in Forex market for this week.
Note
Keep holding this long positiion wiht some point to take in noteIn case that GBP/AUD doesn't get success to break out this resitance that we watch here, we would need to closed up this posiiton in $1.7128 AUD and get 101 pips in profit
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