Short Opportunity for GBPAUD

21 Apr 2020

I am still waiting for my long term GBPAUD set up. But meanwhile, i have identified a short term potential opportunity to open a profitable position in GBPAUD by selling the pair. If we see an hourly close below the short-term trendline (purple trendline) then we can open a short position on the pair. We will have a good 1:1 risk-reward ratio and since it looks like the pair wants to complete this identified formation then i believe it will be highly likely that we can close this trade in profit