GBP/AUD: Break-out trend line
In H1 timeframe, GBP/AUD made this break-out in H1 timeframe and I believe that the price it's moving to the key zone to watch $1.7482 AUD becuse in that point could be a good confluence to entry in the bought.
If you see very carefully, we're in the bullish trend in GBP/AUD following this bought zone.
Also, I will going to entry in short position add a sell order limit in the price of $1.7594 AUD. The Stop Loss around $1.7663 AUD (60 pips) and target to $1.7482 AUD (120 pips)
This it's the H4 timeframe and I see the following perspective. First, GBP/AUD will lead to the blue order block to find up a possible demand in this zone. and then, to watch what could to happen, it's one of the following model that I draw to take in perspective depending the price action. First, if I see any break-out of this blue zone and if make a pull back like resistance zone, then I will re-entry in short. But in case that trying to break-out the blue zone, but bulls forming a demand zone, then I will bought in that smart zone to watch!!!
I hope that this analysis and idea support you in your Forex trade
Good luck!!!
If you see very carefully, we're in the bullish trend in GBP/AUD following this bought zone.
Also, I will going to entry in short position add a sell order limit in the price of $1.7594 AUD. The Stop Loss around $1.7663 AUD (60 pips) and target to $1.7482 AUD (120 pips)
This it's the H4 timeframe and I see the following perspective. First, GBP/AUD will lead to the blue order block to find up a possible demand in this zone. and then, to watch what could to happen, it's one of the following model that I draw to take in perspective depending the price action. First, if I see any break-out of this blue zone and if make a pull back like resistance zone, then I will re-entry in short. But in case that trying to break-out the blue zone, but bulls forming a demand zone, then I will bought in that smart zone to watch!!!
I hope that this analysis and idea support you in your Forex trade
Good luck!!!