GBP/AUD BREAK>RETEST SETUP
Updated
GBP pairs have closed above previous daily high's & GBPAUD also closed above 1.875 so we will more than likely see GBPAUD head to the next key area which is 1.9000. We could see a potential break and retest and go long for a nice 250 pips.
To summarise...
KEY SUPPORT AND RESISTANCE AREA HAS BEEN BROKEN. So we wait for a retest and rejection before going long.
If that doesn't play out wait for a candle to finish outside of the Uptrend before entering, possible even M/A cross over to help with entry.
To summarise...
KEY SUPPORT AND RESISTANCE AREA HAS BEEN BROKEN. So we wait for a retest and rejection before going long.
If that doesn't play out wait for a candle to finish outside of the Uptrend before entering, possible even M/A cross over to help with entry.
Trade active
Should've caught 80+ pips and maybe another 80+ pips on the 2nd entry. I still do see price heading to 1.9000 but I really don't want to be having to exit and re enter every 2 hours. Let's see if a candle finishes outside of 1.8350 so we can look for a retest. Note: I personally may not be trading this now with how GBP pairs are moving this week. Just an idea for those who are.
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