GBPAUD has been forming the Right Shoulder of a Head and Shoulders pattern. My target is on the chart. A four hour candle with decent volume should close under the neck in order to jump in. According to risk appetite, a candle closure under the closest support channel might be waited. RSI indicating excessive sale would also confirm this trade.
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I've just noticed the miss guide with RSI in the analysis above. Just forget about RSI part. Excessive sale can confirm a long position entry, not this one. My bad..
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