GBPAUD - Potential Bearish Reversal!

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

DAILY: Left Chart
GBPAUD is sitting around a strong resistance zone in green so we will be looking for sell setups on lower timeframes.

H1: Left Chart
GBPAUD is forming a head and shoulders pattern but it is still an idea.

Trigger => Waiting for the right shoulder to form and then sell after a momentum candle close below the gray neckline.


Meanwhile, until the sell is activated, GBPAUD can still trade higher inside the resistance or even break it upward. In this case, our next resistance would be the blue zone.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich