GBPAUD potential buy for this SUNDAY. 120+ PIPS

19 Sep 2020

This past week market has shown us strong bullish momentum, bouncing off that trendline and staying in the upwards channel, holding structure. price has made 2 W patterns during the week and with price respecting this trendline throughout this week, bouncing off of it repeatedly, price looks like it could create another W pattern to continue the trend and maintain structure. Price is currently right under this 1.77200 midlevel after having a clear bounce off the trendline for the 5TH TIME during the week and were looking for potential BUYS. if price breaks above that midlevel and closes above on the H1, ill then scale down to the 15 or 5M timeframe and wait for retracement near that midlevel, turning resistance into support, and get in off a bullish confirmation wether its a MA crossover, bullish engulfing, candlestick pattern, etc. we'll then target the most recent highs, TP1 being right below the recent high around the 1.77800 level, for 50+ PIPS, and TP2 being right below the next high around the 1.78000 level for 70+ PIPS, SL up to you. Make sure to SUCURE PROFITS along the way, don't be GREEDY. I'd wait till LONDON SESSION for this trade to fully take place or if you see it forming before that, don't be scared to get in, make sure you have full conformation and good RISK TO REWARD. Check FUNDAMENTAL ANALYSIS ALSO. PATIENCE IS KEY. Let me know your opinions.

19 Sep 2020

Catatan

it looks like price will buy and complete this W pattern, before it has a potential drop like GBPUSD and it also has clear bearish signs on the daily timeframe, with multiple wick rejection to the 1.30000 key level