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Digital-nomad
May 12, 2020 12:01 PM

GBP AUD H1 chart  Short

GBP/AUDOANDA

Description

As you can see the market is ranging and made a false breakout at the resistance level of the range. this false breakout is always made before a strong move to the opposite direction.

if the market breaks the support level , prices will continue going down.

this is not the right moment to enter we still need more confirmations
Comments
ashahboob
Which support level
Digital-nomad
@ashahboob, The yellow one below , in fact the range is trading between horizontal support and resistance and now the price reached the support level , if the breakout happened strongly , this is a clear indication of a trend continuation.if it did not happen the market will still continue ranging .
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