ckot01

GBPAUD Forecast, Long

Long
FX:GBPAUD   British Pound / Australian Dollar
We can see sideways price between the 1.81000 -1.81300 area, creating a nice neckline resistance at 1.81300 . I see a potential inverted H&S pattern being created with the left shoulder and head already being formed. Liquidity has been captured on Hourly timeframe below previous 4hr Low, however a failed 4hr closure below the 1.79800 area signaling early buys for me. Early entries can be around the 1.81200 area with 40 pips SL. Catching a potential nice early entry. Extra entries can be added following a break and retest of the Neckline resistance.

Comment what you think, TPs are in green, if in profit you should trail your SL

Dont forget risk management, You should not be risking more than 2% of your capital per trade, NEVER ADD TO A LOSING POSITION! PROTECT YOUR CAPITAL!


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