On GBPAUD, I've identified an interesting long setup. The price could potentially move from 1.9780 to 2.02 without apparent obstacles. My idea is to open a long position on this currency pair. Currently, the price is in a zone that we could define as "hot," as it's situated between a demand zone and a supply zone.
Within this same zone, the market has generated an Optimal Entry Point (POI), which I've identified through confirmation from candlestick charts on the 1-hour and 15-minute timeframes, along with the Volume Profile Point of Control. At the level 1.9780 in fact we can enter with a long trade or we can enter at 1.97 where we have a forex48 block. Waiting always double confirmations on M15! This signal further strengthens the hypothesis of a long entry.
In addition to the opportunity described above, thanks to my "Forex48 block" strategy, I've identified another possible entry area for a long trade, positioned at the level of 1.9690.
I'd be interested to know your opinion on this situation. I invite you to comment and leave a like to support our work. Warm regards from me, Nicola, CEO of Forex48 Trading Academy.