Gbp/Aud POTENTIAL Long Term Buy Set Up!

29 thg 8, 2020

My chart features a setup for a potential Gbp/Aud Buy. The top chart shows key support and resistance zones on a daily level. On the bottom chart, I zoomed out to show that price may be at support level for the ride back to the upside. My RSI isn't shown on here but if you're interested you can see there is a hidden divergence. With all of the news this week, I'm hoping to get another touch around my lower entry levels for a 800 pip potential trade. This is a 3.2/1 Ratio trade that I am willing to test my patience level and ride out for the long term, if things go according to plan. The Risk/Ratio goes lower for a higher reward if price happens to break below 1.79 and finds support down there. If price reaches 1.76, I may update for a selling opportunity. In all honesty, I am hoping for another run back to the 2.0 price, so this is a pair I will be buying on dips and monitoring very closely!