GBPAUD TF TRADE

22 Oca

The daily charts show a bullish trend. I am considering a trend-following buy trade based on the current daily support. Upon analyzing the 1-hour chart, I observe a double bottom pattern and an additional confirmation is provided by a trend line. Whenever the market touched this trend line as resistance on an hourly basis, it resulted in a downward movement. Now, both the double bottom pattern and the trend line pattern have broken above. We will look to enter the trade on a retest.

Entry 1.92625
Stop loss 1.9195
Targets 1.9326 , 1.9362 and 1.9386