GBPAUD - 4H TREND FOLLOWING STRATEGY
GBP is losing momentum over a few pairs from current uptrend.
Lower highs are being made.
MA gaps are closing and should cross and stay below MA60 indicating new downtrend.
Currently looking for a test of resistance MA40 below MA60, with a bearish conformation candle for entry.
Additional strength to theory - Entry from resistance of MA40 would be after a break of the current major support line.
SL - Placed at high of previous 4h candle
EXIT - When price crosses back above MA40 and closes
GBP is losing momentum over a few pairs from current uptrend.
Lower highs are being made.
MA gaps are closing and should cross and stay below MA60 indicating new downtrend.
Currently looking for a test of resistance MA40 below MA60, with a bearish conformation candle for entry.
Additional strength to theory - Entry from resistance of MA40 would be after a break of the current major support line.
SL - Placed at high of previous 4h candle
EXIT - When price crosses back above MA40 and closes