Weekly -Pink horizontal line- + Daily Support Zone -Orange Rectangle- + Weekly timeframe is still an uptrend
H1 Divergence in OS RSI
WAIT FOR.... + H4 downtrend (Green Diagonal Line) + Descending triangle breakout (blue triangle). For a more conservative entry.... Breakout + Pullback + Good PA confirmation.
OTHERWISE I WOULDN'T ADVICE TAKING THIS TRADE!
If all this requirements are met we could search for possible re-entries. It's a good R&R, uptrend may continue further if you'd like to trail your SL.
Great idea on GBPAUD, we have the same bullish bias on GBPAUD. You’ve identified a descending triangle with a support level at 1.8368 coincides with our support level as well. The support we identified was supported by a horizontal pullback support, 23.6%, 38.2% Fibonacci retracement and a 61.8% Fibonacci extension. We have also identified a major resistance at 1.8733 (supported by a horizontal swing high resistance) which coincided with yours! Glad that we have the same bullish view on this currency pair.
Should you be interested in our view of GBPAUD, do take a look at our idea and let us know what you make of it.
Should you be interested in our view of GBPAUD, do take a look at our idea and let us know what you make of it.