GBPAUD (Student exercise)
Monthly: Bullish direction, channel present.
Weekly: Price respecting trend line, currently over a strong level
Daily: 1 - The price can close over the trendline for the weekend (Entry 1) and next week aim to touch level 1,95500.
2- If break of trend (very unlikely due to recent GBP strength), to test daily level, retest trend line and aim weekly support level.
4H: Entry 1 likely to happen, strong bearish Marubozu, unlike to test the trend.
Weekly: Price respecting trend line, currently over a strong level
Daily: 1 - The price can close over the trendline for the weekend (Entry 1) and next week aim to touch level 1,95500.
2- If break of trend (very unlikely due to recent GBP strength), to test daily level, retest trend line and aim weekly support level.
4H: Entry 1 likely to happen, strong bearish Marubozu, unlike to test the trend.
Comment:
I am new in the market, any idea please comment, thank you.
Comment:
Entry 1 achieved