GBPAUD Potential Long Set Up
Updated
GBPAUD has found support at the $1.81520 handle which lines up perfectly with the 38.2% Fib Level. This is the second time it has tested this level since breaking to the top side. Support is confirmed as seen by the Doji candle. The overall structure on H4 is an uptrend. It only makes sense to go with the trend until it bends! I will be keeping an eye on fundamentals, though it drives volatility, it definitely can throw off the technical analysis as well. Stay tuned! Good luck and happy trading!
Trade closed: stop reached
Buy limit got triggered overnight at $1.81999 and before I could update this trade got stopped out for 70 points. Bummer. Next time around I'll set a price alert at the area of interest and watch price action before I take the trade.
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.