OANDA:GBPAUD   British Pound / Australian Dollar
BREAK AND RETEST
PLAN:
1.WAIT for a 4hr close above resistance zone
2.WAIT for retest back into or close enough to the zone .
3.Wait for some sort of rejection on the 30min or hourly.
4. Wait for price confirmation
5. buy
The trend is your friend, it makes no sense to trade against it. my analysis is done according to momentum.

stops should be adjusted based on how and where the 4hr candle closes. so risk might increase or decrease.
Mar 12
Trade closed manually: stops hit in profit of 45pips
Mar 14
Comment: Added to spreadsheet
stops hit in profit about 45pips. nice trade with a good risk to reward
Reply
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