GBPAUD - Follow The Trend ↘️

5 Oca

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

📉 GBPAUD has been overall bearish trading below the red trendline, and it is currently retesting it.

Moreover, the zone 1.9 is a robust resistance.

🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the resistance zone in green and red trendline acting as a non-horizontal resistance.

📚 As per my trading style:
As GBPAUD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top 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