GBP-AUD STRUCTURE ANALYSIS|TRADING PLAN

Aug 13, 2020

The pair had broken out of the long term downward resistance line and is now consolidating below the resistance in the bullish triangle/flag.

Even though the pattern is bullish, it can break out either way, thus:

TRADING PLAN:

1-wait for the breakout, either way

2-make sure it is confirmed

3-Enter the position on the pullback, according to the direction of the breakout.

4-The ultimate targets are the support and the resistance.

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Aug 17, 2020

Note

The support still stands!