GBPAUD - BUY - 20th May 2022




GBPAUD - BUY - 20th May 2022 (Closed)


Afternoon team,

Last week we took a shot at the GBPAUD, however, we were taken out at breakeven. I have been watching the price action unfold and there appears to be a 4th wave triangle occurring, which indicates a bullish breakout to the upside.

We are resetting this position ready for a possible break to the upside.

GBPAUD – 1 Hour Chart

Trade Setup: BUY market execution, current price 1.7750, stop loss 1.7630 and take profit 1.8075.

Stop loss: 120 pips

Take profit: 325 pips

Trade Setup
BUY - Market Execution

Entry
1.7750

Take Profit
1.8075

Stop Loss
1.7630