GBPAUD - Perfect confluence - up we go!
As you can see from the chart we have taken a nice buy position on this pair. We have the bearish trend which has been respected for some time now on the higher timeframes. This broke out and it was a matter of time before we saw some action to get involved in the next trade. We can see on the lower 1hr timeframe we have created a nice little bullish trend which matches perfectly to a good level of structure and the 50% fib. So, we have 3 confluences, 3rd touch trendline, good level of structure and also the fib. All of these lead us to believe the market should see a nice upward momentum.
Please drop your thoughts and comments below :)
Any questions don't hesitate to ask.
Please drop your thoughts and comments below :)
Any questions don't hesitate to ask.
Note
Beautiful trade this we waited for London open and the pair flew in the right direction
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.