mingnhutFX

Sideway Consolidation breakout

Long
FX:GBPAUD   British Pound / Australian Dollar
Possible can break further down, but this strategy looking pullback fill the gap which is good entry buy from bottom with low risk.

Comments

Please can u explain this consolidating zone. How did you come about the yellow box, and what are we looking out for? Thank you
Reply
lob28 aleemfarouk08
@aleemfarouk08, From what I can see where there is consolidation there is divergence with RSI making higher lows as price hits the same support showing signs of a potential move up. Also the two legged pull back from X to A then B to C suggests another move up from C to D. Hope this helps, only just getting into this so correct me if i'm wrong
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