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GBP/AUD - Buy Zone

Long
British Pound / Australian Dollar (OANDA:GBPAUD)  
austinlmkc  
OANDA:GBPAUD   British Pound / Australian Dollar
Trend Analysis Chart Patterns Technical Indicators Forex forextrading forexsignals GBPAUD tradingjournal winningtrades
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trendanalysis chartpattern indicator forex forextrading forexsignals gbpaud tradingjournal winningtrades
GBP/AUD has hit the major resistance level for a second time to the downside and price action shows that theres is consolidation followed by some light bullish action to the upside. Price consolidated in the buy zone and eventually closed above the top level of the buy zone. Market structure depicts a triple bottom. Now looking to see how price plays out at the 38.20% Fib Level. Ideal situation would be a major bullish influence at the 50%. Could buy at the 38.20% level but would have to wait for further confirmation that price will be heading to upside. Price has been rejected strongly at the "Buy Zone" so I think the overall trend will be to upside.

Trading Journal #13

- Austin S.
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