GBPAUD- DOUBLE BOTTOM

GBPAUD shows Double Bottom (Adan&Adan)

• We are in an mayor Uptrend, so its ok to trade its an Up-breakout.
  Pattern formed after a minor downtrend
  Second bottom is little bit upper than first, so chances increase.
  Measure rule from the HH to LL of the pattern. Transfer that measure from the breakout point and above.
  We see the pattern when it broke and come back inside the pattern, so we set a pending order to buy if price reach the neckline.
  SL in the second bottom.
  TP2 set using measure as explain above
  TP1 is 50% TP2
  Once price reach TP1 we move SL to 40 % (10% below TP1)
  

Trade active:

SL moved to the next higher low in case trade go wrong as it seems price is reaching a resistance with a double top and can bounce back.

Trade active:

TP1 HIT
SL moved to 40% Profit - 2.01575

Trade closed: target reached:

Price decrease after hitting TP1 and reached our new SL - 2.01575.

Trade closed with 40% of the proyected profit.