GBPAUD - Position/Swing Trade Long Term Setup

GBPAUD Swing/Position Trade Long Term Set-up
Daily Chart

Wide stop loss is needed for this trade. at least 150 to 250 pips.
Might take several weeks for trade to unfold.

Reasons for this trade:
-Price reached upper band of the channel.
-Divergence in RSI

Need to hold trade for maybe a month.

Entry, SL and TP levels as indicated in the chart. Happy trading!

Comment:

SL can be adjusted up to 300 pips. First TP is more than 300 pips as well. 1:1 RR. Give trade breathing room

Trade active

Comment:

+100 pips profit from 1.97000.

Keep holding. The bear run has just begun. :P

Comment:

+200 pips :P

Comment:

TP1 HIT!!! Keep holding. GBPAUD is gonna drop some more.