Price has made 3 legs up ( leg 1, leg 2 & leg 3 ). So is it time for a correction of the entire wave up before the bulls come dominating again? What is not clear is if that's the end leg 3. However, if price breaks the mini trendline and holds, that could be the beginning of the correction. On the contrary, if price decides to go up, I will try my best to update the chart once I get a buy setup.
Happy Trading. 6.1.8 Family.
Comment
⋅
This is an update of the structure I'm looking at, you might want to wait for a longer hold under this trendline as the structure changed.
Comment
⋅
I moved to the 60mins to get a better accuracy,
Comment
⋅
A sell setup can occur but that is a new trade since there is a potentially new high for the entire wave up. So, if I decide to share an idea on GBPAUD, it will be in a new post.