GBPAUD: Trend Reversal Signal
The market has been moving down since the beginning of April. The price bounced from 1.78550, and we can consider this zone as support. Also, the price formed a bullish divergence, which gives us a trend reversal signal. If we get a breakout above the local downtrend line, it will be an additional bullish signal. We will have a possible buying opportunity.
How to trade?
It is possible to search for the exact entry points using hourly timeframes and a possible reversal from the support line.
It is possible to use the daily chart and the breakout signal above the downtrend line.
Stop orders for all trades should be placed below 1.78550 support. Profit targets can be placed at the daily SMA50 and round numbers. Risk per trade must be no more than 1-2% from the deposit.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
How to trade?
It is possible to search for the exact entry points using hourly timeframes and a possible reversal from the support line.
It is possible to use the daily chart and the breakout signal above the downtrend line.
Stop orders for all trades should be placed below 1.78550 support. Profit targets can be placed at the daily SMA50 and round numbers. Risk per trade must be no more than 1-2% from the deposit.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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