British Pound / Australian Dollar 4H ( Buy Setup )

1 בינו׳ 2021

Hello Good Day to every traders around the world. Here is my analysis for GBPAUD in 4H chart. What I noticed was, there is a buy setup. There is a resistance level at 1.78874 and support level at 1.76576. I drew buyer zone with yellow shaped rectangle. Current candle is in bearish form, however if the candle didn't retrace above 50% of the bullish candle beside so this setup is still valid for buy. If the candle retrace and made a bearish engulfing, this setup fails to buy and what we do is Sell GBPAUD or wait till it retrace back to our Buyer zone. Whatever it is, I will be focusing on only Buy. I've posted my targeted TP and SL with the long position box. Thank you for viewing my analysis on British Pound / Australian Dollar setup and do like if you think it's worth to view and follow.

Greetings,
Mr. Trade from Malaysia