Get started
HayatoDragonFX

GBPAUD, 4hr tf, breakout of broadening wedge

Short
British Pound / Australian Dollar (FX:GBPAUD)  
HayatoDragonFX  
FX:GBPAUD   British Pound / Australian Dollar
Wedge Flag Support and Resistance GBPAUD gbpaudshort gbpaudanalysis gbpaudsell priceaction Broadening Wedge Ascending Broadening Wedge Bearish Flag
2
7
wedgepattern flagpattern supportandresistance gbpaud gbpaudshort gbpaudanalysis gbpaudsell priceaction broadeningwedge ascendingbroadeningwedge bearishflag
Recently, price managed to break below the support of this ascending broadening wedge pattern.

Notice for price consolidate near the support before breaking below it. This consolidation looks like a bearish flag to me.

We could expect price to continue go down towards 1.8100 area. The target of this wedge is at 1.8092 but we will aim to take profit a little bit above the target.

Sell GBPAUD 1.8260
Stop loss 1.8320
Take profit 1.8110 (2.5R)

Use only 1-2% risk
Good luck
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.