GBPAUD Analysis
Updated
Price has been in a strong downtrend but has held strongly at a support level (1.86726). Price also broke out of a H4 structure of resistance at 1.87856 and came back to this level and formed a double bottom. On the 15m which is my entry time frame, price formed a resistance level at 1.88120 which was broken with a single candle to the upside.
Now i'd love to see price retrace to 1.88120 and formed a wick rejection and i'll go long at the formation of the bullish candle after the wick rejection.
Now i'd love to see price retrace to 1.88120 and formed a wick rejection and i'll go long at the formation of the bullish candle after the wick rejection.
Trade closed: target reached
Price was sniped. Price played out as i anticipated
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