Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈GBPAUD has been bearish trading within the falling channel.
Currently, GBPAUD is approaching the lower bound of the channel.
Moreover, the zone marked in green is a strong demand.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the support zone and lower trendline acting as non-horizontal support.
📚 As per my trading style:
As #GBPAUD approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich