traderfizfx

WAIT FOR CLEAN BREAKOUT BEFORE GO LONG

Long
OANDA:GBPAUD   British Pound / Australian Dollar
The idea is straight forward. If the price break the resistance line and make new Higher High, wait for pullback and entry at the breakout point (make sure it is clean breakout). On top of that, we can see the price already break the downtrend structure and in Daily timeframe shows Double Bottom pattern which is strong signal for reversal. I recommend to take profit at fibo extension 1.000 TP 1 @ 1.82700 and 1.618 TP 2 @ 1.8400. Just my opinion, trade at your own risk.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.