We are at a key instrumental level for GBPAUD at the moment.
This is the instrumental leg to come back to the mean price, of which I think we still need to find before the trend begins to have an opportunity to change.
You can use very tight SL's on this trade. trading below 2.1250's is instrumental for this trade to be consistent.
Best of luck
Since the move up isn't strong and with clarity it's safer to assume we are still seeing weakness after the previous impulse leg since the pullback hasn't got any real sign of bull strength
This is NOT to be confused with NR7's or the associated NR7 strategy. Although the nature is simular.