GBPAUD Long structure with entry point!

20 ago 2023

On GBPAUD, I've identified an interesting long setup. The price could potentially move from 1.9780 to 2.02 without apparent obstacles. My idea is to open a long position on this currency pair. Currently, the price is in a zone that we could define as "hot," as it's situated between a demand zone and a supply zone.

Within this same zone, the market has generated an Optimal Entry Point (POI), which I've identified through confirmation from candlestick charts on the 1-hour and 15-minute timeframes, along with the Volume Profile Point of Control. At the level 1.9780 in fact we can enter with a long trade or we can enter at 1.97 where we have a forex48 block. Waiting always double confirmations on M15! This signal further strengthens the hypothesis of a long entry.

In addition to the opportunity described above, thanks to my "Forex48 block" strategy, I've identified another possible entry area for a long trade, positioned at the level of 1.9690.

I'd be interested to know your opinion on this situation. I invite you to comment and leave a like to support our work. Warm regards from me, Nicola, CEO of Forex48 Trading Academy.