This is a purely structure based trade. Both the AUD and GBP are showing weakness at the moment so ordinarily I would not take this potential trade. Structurally we've had an impulsive move toward the ???? target. Next we had a 5 wave move down and now price is in an ABC
correction. The A wave ( zigzag
) down is not complete so the possibility of another impulsive wave down is high. Possible entry would be on the break of wave 2.
This is not investment advice
I'll update this idea as it develops
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Trainer & Mentor @logicfxtrading (links Below)