Breakout Continuation On GBPAUD
See Signposts for key price action details.
I generally don't like breakout continuation plays as I often don't find them working out. Lately, I've been refining this so that I'm only trading the breakout continuation when a "reversal" move is underway. This tends to be more reliable than trying to trade a breakout continuation in the direction of the existing trend. For example, a breakout to the upside on an overall uptrend is less likely to succeed.
I generally don't like breakout continuation plays as I often don't find them working out. Lately, I've been refining this so that I'm only trading the breakout continuation when a "reversal" move is underway. This tends to be more reliable than trying to trade a breakout continuation in the direction of the existing trend. For example, a breakout to the upside on an overall uptrend is less likely to succeed.