GBPAUD currency pair on the chart H1 meets the 3 main criteria for strategy Bollinger Bands #3A. Five consecutive candles closed below the lower Bollinger band. In addition, a local low was formed and soon after that – a local high.
Breaking local low (1.6000) may be an opportunity to buy PUT option (on the decline). In turn, traders concluding transaction on the spot market may also enter after breaking 1.6000, SL should be over the local peak (1.6034). The target of the short transaction will be than 200 percent extension of the downward movement, around the level of 1.5899.
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