GBPAUD - 240 - Descending Triangle

Amateur trader don't trade based on my ideas.

Intersection of solid support at 1.68 and descending triangle. Entry will be long or short upon break + close of either the support or resistance lines.

No idea what T/P and S/L should be, I'll probably aim for the next support/resistance lines with appropriate S/L to manage risk/reward ratio. I like 2:1 minimum.

Kommentera:

If the 4-hour completes in 35 mins without going any lower than current low of 1.67956, you could enter long for a quick cheeky bounce up to 1.69 again with 2:1 R/R, as it forms a double bottom. Wait for the period to close though!!

I will be sitting that trade out; prefer to wait for the triangle to be broken,