GBPAUD - SNIPER SETUP

Hello Traders ! This is my setup on GBPAUD.
Last week we got caught on this pair we didn't expect that push higher and the reject of that counter trendline, no big problem it all comes down to risk management. Don't forget 1-2% is ideal.

Now, we still expect a move to the downside due to the fact that on monthly timeframe we are in 0.50 fibo level area and in a critical area too (look left and check for that massive wick on monthly).
We can possible see a double top forming and then a drop to the neckline of that double top. Our blue zone at the top will be a good area to open shorts postions, drop timeframe and check for price action confirmation, always ! If we see a break to the upside this setup is no longer valid for us.


Remember, trade only what you see and not what you think it will happen, very important !

If you like our analysis please give a like, we appreciate.

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