MatteoMelidoni
Long

*GBP/AUD* Bearish AB=CD Pips Away From The PRZ (4H Timeframe)

OANDA:GBPAUD   British Pound / Australian Dollar
We have a nice bearish AB=CD forming on the GBP/AUD pair, Intermediate Timeframe is 4H, Major is Daily and Minor is 1H.

I expect this pattern to complete today or tomorrow.

This AB=CD has an AB measurement of 0.393 which means the reciprocal ratio will be 2.618. This is the CD price leg.

Once price confirms 2.618 ratio I will be looking to enter the trade depending on how price looks in the PRZ.

Stop loss level is measured with the fib retracement tool from B to C using a set ratio of 3.14 or 3.618
Take profit level is measured with the fib retracement tool from A to D using a set ratios 0.382 and 0.618

If price reaches the 0.382 ratio I would move my stop loss into break even or just into a little profit to bulletproof the trade ensuring if the trade goes against me I will not take a loss and even a small profit.

If you have any questions feel free to drop it in the comments.

Happy trading and hope everyone has a great day!

Matteo :)
AS I SEE THE MARKET IS BEARISH BUT THE MARKET NEED TO MARKET SOME CORRECTION BEFORE IT FLOW DOWN AND YOUR ANALYSIS JUST OPEN MY EYES...THANK YOU
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Thanks for the analysis. I'm following.
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MatteoMelidoni Luminary_Self
@Luminary_Self, Your Welcome! :)
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Is it go down #GBPAUD
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@ahshohag950, Hey my friend, What do you mean? could you rephrase the question?

Matteo :)
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