GBPAUD 240 short – RSI trend break and failure swing

Jan 12, 2020Possible but not confirmed break in the UT (since 30 July 2019) on 16 Dec 2019. To confirm the break we would see a new LL. Current observations are a break in the RSI trend accompanied by a formation of a failure swing. Looking to see a break in the PA trendline as a trigger to enter the short trade – if it happens this would break both dynamic support (in blue) and a previous HL (in green). Sorry for the teeny tiny chart I am working on my laptop.

Jan 13, 2020

Trade active

PA break below trendline, entered trade.