GBPAUD Bullish Divergence + Trend Resistance

FX:GBPAUD   British Pound / Australian Dollar
376 6 18
There may be an opportunity here for a long on GBPAUD             given a trend break. The potential for this move is supported by the bullish divergence (illustrated with the red lines). If it breaks the trend resistance (yellow line) The TP would placed in the area where the pair was previously ranging. A reversal here would also serve as a double bottom from post-Brexit lows.

R:R of position shown: 3.35

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QuileHills earthkamol
It hasn't hit my entry shown above. The order has been modified as shown in this chart
I agree we are looking at a nearing opportunity to go LONG, but I think we have a little lower to go. I think an entry closer to the 1.6950 - 1.6900 level would be a better price.
+1 Reply
QuileHills Bonavest
Definitely possible. I'm mostly just looking for the trend resistance break with the divergence sustained. The entry will be adjusted as the pair goes lower.
+1 Reply
Bonavest PRO QuileHills
Hey hey... it hit my entry price.
QuileHills Bonavest
Best of luck.
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