this is the gbpaud weekly chart
as you can see it usually moves up and down in a channel with specific angle
this is the daily chart
what about we wait for it to rebound from the lower trend line (if that happens)
then wait for it to build an uptrend with the same angle it is used to
then wait for it to be on the lower trend line of the newly formed channel
and plant longs (targeting the green line for now) (700 pips)
note that it still have ~80 pips down chance based on this 15 minute chart
and from there (1.6790) or if it goes down more to touch the lower weekly TL (1.6730) we can start watching/waiting the new uptrend.
as you can see it usually moves up and down in a channel with specific angle
this is the daily chart
what about we wait for it to rebound from the lower trend line (if that happens)
then wait for it to build an uptrend with the same angle it is used to
then wait for it to be on the lower trend line of the newly formed channel
and plant longs (targeting the green line for now) (700 pips)
note that it still have ~80 pips down chance based on this 15 minute chart
and from there (1.6790) or if it goes down more to touch the lower weekly TL (1.6730) we can start watching/waiting the new uptrend.