GbpAud London/NY session order blocks (examples)
Example of both a bearish and bullish order block that would have helped you day trading the Gbp/Aud pair on 15 minute time frame. This is a very both a high liquidity and volume four hours of day (last four hours before London session closes).
Noted on attached chart is following:
1) 1:3 risk/reward set up on a bearish and bullish trade. If you would have utilized a 12.5 pip stop loss vs possible target of 36+ target. These trades would have lasted around a hour in real time to hit targets.
2) Note: Fib retracement indicator on chart, with a reversal in golden zone of 38% to 62% areas. They can/should be used for both trades for entry areas.
3) Price action on 2nd trade had support right above white line or S1 pivot line, which is another confirming indicator.
Noted on attached chart is following:
1) 1:3 risk/reward set up on a bearish and bullish trade. If you would have utilized a 12.5 pip stop loss vs possible target of 36+ target. These trades would have lasted around a hour in real time to hit targets.
2) Note: Fib retracement indicator on chart, with a reversal in golden zone of 38% to 62% areas. They can/should be used for both trades for entry areas.
3) Price action on 2nd trade had support right above white line or S1 pivot line, which is another confirming indicator.