GBP/AUD 4H Trend continuation setup (short)
GBP/AUD 4H Trend continuation setup (short)
We can see price making lower low (new structure low) and that signals contiunation of the trend.
Major daily structure is way lower and that tells us that price will drop down lower to that structure and retest it.
PRZ is quiet large and i would take it at the top of it because of risk:rward ratio. If price will not be hit i will simply skip that trade.
Stop loss above previous structure. Targets at retest of previous low. For more agressive trade you can put targets at extension 127.2% of last swing high to swing low.
We can see price making lower low (new structure low) and that signals contiunation of the trend.
Major daily structure is way lower and that tells us that price will drop down lower to that structure and retest it.
PRZ is quiet large and i would take it at the top of it because of risk:rward ratio. If price will not be hit i will simply skip that trade.
Stop loss above previous structure. Targets at retest of previous low. For more agressive trade you can put targets at extension 127.2% of last swing high to swing low.
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.