Hi Traders! GBPAUD update and follow up of the sell opportunity is here. In the previous post here I mentioned that the price is moving inside a bearish flag pattern and it is currently below the middle of this pattern. If the price moves lower and if we get a valid breakout at the bottom of this pattern, we can then go ahead and look for sells. Lets see how this setup has developed now.
GBPAUD H4 Chart:
Price moved exactly as per our plan and broke below the bearish flag pattern triggering our entry for sells. It has provided 1:1 risk reward ratio already.
Price moved exactly as per our plan, it moved lower and broke below the most recent low at 1.79865 (horizontal line level) thus triggering our conservative entry:
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