GBPAUD, 4hr tf, breakout of broadening wedge
Recently, price managed to break below the support of this ascending broadening wedge pattern.
Notice for price consolidate near the support before breaking below it. This consolidation looks like a bearish flag to me.
We could expect price to continue go down towards 1.8100 area. The target of this wedge is at 1.8092 but we will aim to take profit a little bit above the target.
Sell GBPAUD 1.8260
Stop loss 1.8320
Take profit 1.8110 (2.5R)
Use only 1-2% risk
Good luck
Notice for price consolidate near the support before breaking below it. This consolidation looks like a bearish flag to me.
We could expect price to continue go down towards 1.8100 area. The target of this wedge is at 1.8092 but we will aim to take profit a little bit above the target.
Sell GBPAUD 1.8260
Stop loss 1.8320
Take profit 1.8110 (2.5R)
Use only 1-2% risk
Good luck