GBPAUD - Trend-Following Sell Setup!

١٥ فبراير ٢٠٢٣

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

GBPAUD is overall bearish trading inside the blue channel, and it is currently approaching the upper blue trendline.

Moreover, the zone 1.76 is a strong resistance zone .

🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper blue trendline. (acting as non-horizontal resistance)

As per my trading style:
As GBPAUD is sitting around the upper purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich