GBPAUD Daily Head and Shoulders Pattern Formation Setup.. Buy!!!

GBPAUD Daily Head and Shoulders Pattern Formation Setup.. Buy!!!

I am long from 1.927 keeping daily 20 ema in mind. On daily mcad is still bullish and yesterday's low is 1.9215. Daily 20 ema is at 1.9232 and daily close below 20 ema will confirm bearish action otherwise jumps upside will remain intact. Keeping that in mind I am on upside ride as we have 4hr rising trendline also at 1.9243.

I am expecting move towards 1.95 to make head and shoulders pattern on daily and then down again but all depends on price action at 1.95!!!! For now I am on bullside keep stop below 1.916.. Lets see how this play out!!!!! Trading above 20 ema on daily and rising trendline on 4hr is bullish!!!!!

Comment:

It reversed from daily trendline and holding above 20 ema. For now daily candle close will be interesting to watch as it is making Pin bar candle..

I think it is going towards 2.00 and high!!!!!!! 700 pips from here.. but first it needs to crack important figure 1.951.. If price action choppy at 1.951 then it can slump down but if prices remain bullish then move towards 1.97 and very likely towards 2.00 and high!!!!

Comment:

Trade of the week.. gbpaud buy on dips!!!!

Comment:

Now the bird is out of cage... It is good to buy on pullbacks.. It struggled many days to close 4hr candle above 20 Ema and its very bullish!!!! It's a good swing trade.. Simply buy on dips as AUDUSD is getting rejection from resistance trendline.. I am expecting AUDUSD move towards 0.66 and below!!!!

Comment:

If anyone missed gbpaud buy.. Then now is very good time.. @ market price of 1.9366.. And for this stop can be 1.9345.. Very little stop!!!! Tp can be 1.953 and high!!!