Compliments of the season traders! <3
Here is a long-term GBPAUD chart to start the new trading year.
GBPAUD started a corrective phase after a five-wave massive decline. In this analysis, I focus on the corrective pattern that's unfolding from September low.
Price seems to be making a possible 3-3-5 flat corrective pattern on the daily chart. If this count is correct, a rally back to at least wave (a) high to complete wave (c) is plausible in the months ahead.
Price has made a double failure swing reversal pattern, I love to see it. The breach of the 1.79304 green line will actually confirm the anticipated rally has started. In the short-term, we can use the closer green level (1.77955) for aggressive entry. The breach of red level (1.75931) will invalidate the setup.
What's your view on GBPAUD? Let me know in the comment.
I wish y'all a favorable and profitable trading year!
Best,
Veejahbee.
Here is a long-term GBPAUD chart to start the new trading year.
GBPAUD started a corrective phase after a five-wave massive decline. In this analysis, I focus on the corrective pattern that's unfolding from September low.
Price seems to be making a possible 3-3-5 flat corrective pattern on the daily chart. If this count is correct, a rally back to at least wave (a) high to complete wave (c) is plausible in the months ahead.
Price has made a double failure swing reversal pattern, I love to see it. The breach of the 1.79304 green line will actually confirm the anticipated rally has started. In the short-term, we can use the closer green level (1.77955) for aggressive entry. The breach of red level (1.75931) will invalidate the setup.
What's your view on GBPAUD? Let me know in the comment.
I wish y'all a favorable and profitable trading year!
Best,
Veejahbee.