GBPAUD in an upward 4 hour channel approaching lower end of the channel
- price could reach the support line drawn on chart where price previously could not go lower and bounce up higher
- OR price could reach bottom end of channel before bouncing up, lower end of channel and support line could meet price at same time making great opportunity to buy. However my bias is leaning towards price breaking support line and bouncing off lower channel line or possibly breaking lower.
- Wait for the market to come to you - buy the bounce or sell the breakout
- price could reach the support line drawn on chart where price previously could not go lower and bounce up higher
- OR price could reach bottom end of channel before bouncing up, lower end of channel and support line could meet price at same time making great opportunity to buy. However my bias is leaning towards price breaking support line and bouncing off lower channel line or possibly breaking lower.
- Wait for the market to come to you - buy the bounce or sell the breakout