I am looking for an upside move in GBPAUD. On the Daily chart, we can see there is a clear double top with liquidity past it.
To position long on the H1 timeframe, I want to see a break and retest of the green level. I will look to offset at the silver dashed line and re-enter if I see more compelling price action into my long bias.
There is no hard and fast stop or entry price, until I see what I want to see on the H1.