GBPAUD has been bearish since day before yesterday. The pair produced a Double Top and then four consecutive bearish candles. The price came up to 1.61750. Then is has been on consolidation. So far, we have had eight candles within the consolidation zone. If the price makes an H4 breakout, then selling GBPAUD should be the best option as far as the H4 chart is concerned. Let us have a look at the H4 chart of GBPAUD…
GBPAUD Free Forex Trading Signals – 30th March 2017
As we see that, the level of 1.65500 produced a Double Top as well as those H4 bearish candles. The level of 1.61750 has been the support and 1.62500 has been the resistance level here. If we get an H4 breakout at 1.61750, then the price should come up to 1.59500 without having that many pauses. This means the risk and reward ratio is excellent here. This would attract more sellers to sell the pair upon the breakout, which has been described here.
Let us have a look at the summary of the trade
- Sell Stop Order: 1.61750
- Stop Loss Level: 1.62500
- Take Profit Target: 1.59500
Yesterday we shared a setup on GBPUSD. The setup is still valid. There is a very good chance that we get the signal triggered today. As we know that H4 chart’s signals are very reliable and they take more time to be triggered as well. In fact, this is what makes H4 chart to be the most reliable chart in the Forex market. We just have to be patient to make full use of it.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: GBPAUD Free Forex Trading Signals – 30th March 2017
The post GBPAUD Free Forex Trading Signals – 30th March 2017 appeared first on Advanced Forex Strategies.
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