GBPAUD DAILY Converging AB=CD Pattern's PRZ with Trendline
This trade is a little ways out and I actually might take a long position in anticipation of price heading towards PRZ,
Converging AB=CD patterns PRZ's on daily chart with a nice trendline cutting right through that zone that will give a very convenient way to predict a more precise entry price and a tighter stop loss.
I think the best course of action will be to wait for price to test that trendline to time an entrance and calculate the closest stop loss.
I'm going to split position up into thirds.
Target 1 - 1.93451
Target 2 - 1.88709
Target 3 - Will trail stop and close position at the yellow trendline.
Converging AB=CD patterns PRZ's on daily chart with a nice trendline cutting right through that zone that will give a very convenient way to predict a more precise entry price and a tighter stop loss.
I think the best course of action will be to wait for price to test that trendline to time an entrance and calculate the closest stop loss.
I'm going to split position up into thirds.
Target 1 - 1.93451
Target 2 - 1.88709
Target 3 - Will trail stop and close position at the yellow trendline.
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