Is it time to buy GBPAUD?
Currently long NZDCAD, I am casting my eye over GBPAUD and it seems to have reacted nicely to a decent soft level of support....one which has been well respected in the past.
Fingers and toes crossed it doesn't run away before the end of today, for a long trade. Even though it is not completely at the bottom of a long term range, it is at a level which has been quite reactive in sending price action on its way to the top of its range in the past!
Fingers and toes crossed it doesn't run away before the end of today, for a long trade. Even though it is not completely at the bottom of a long term range, it is at a level which has been quite reactive in sending price action on its way to the top of its range in the past!
Gets rejected off this level often, and the indicators are showing divergence as indicated by the arrows i drew on...
Fellow traders, any thoughts?
Generally i'd be looking for a reversal pattern either on the Daily or a confirmation on a lower time frame for tighter entry, but this does look good to just 'jump in whilst the water is warming up'
Generally i'd be looking for a reversal pattern either on the Daily or a confirmation on a lower time frame for tighter entry, but this does look good to just 'jump in whilst the water is warming up'
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