GBPAUD - Now We Wait!

19 Sep

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈GBPAUD has been bearish trading within the falling channel.

Currently, GBPAUD is approaching the lower bound of the channel.

Moreover, the zone marked in green is a strong demand.

🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the support zone and lower trendline acting as non-horizontal support.

📚 As per my trading style:
As #GBPAUD approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich