Trade Setup: GBP/AUD analysis

price has created its 3rd drive into the highs of that dynamic resistance price region that price previously tested. IF 4HR candle can close as a Doji suggesting indecision and potential rejection at the key trendline we could see price form a new higher low? and correct to the 1.82000 level (61.8% retracement zone) before accumulating buying orders to break the key trendline and reverse to new highs
- SL is set higher than our previous wick rejection, if price breaks above the resistance and closes above, it's likely that price could rally towards our long term targets of 1.85000

Risk reward ratio is 1:2

İşlem elle kapatılmış:

I took profits at 1.8269 i wasn't extremely confident about that trading setup due to GBP strength