I am looking for the best short opportunity for GBPAUD but based off the structure we are seeing on the 4HR timeframe with divergence I can see price jumping to 1.8850 zone marked by the gold/orange eye.
Here is where we will meet our top channel resistance. Depending on the momentum and volume of this move will depend if we ....
A. Break the channel up and go higher to the next level -- bringing us closer to the monthly 200 MA creating extreme sell pressure.
B. fail to break, create a false bullish flag on the 4hr, create a new low at the 127 or 161 FIB extension of the 4hr frame bringing us to the price zone off floor 1 purple horizontal line.
Price zone FIB127 @ 1.8642 zone
Price zone FIB161 @ 1.8577 zone
From here we can go straight up to a new level equal to the distance of the green vertical stick. This would create a double top (depending on where we turn around ) on the daily and 4hr time frame.
The dashed horizontal black&yellow line is what I see as the caution tape line: "CAUTION WE ARE NEARING ALL TIME MONTHLY HIGHS.
From here we are going to either turn around for a good weekly swing or we are going to create some sort of ABC correction for a drop down.
I dont hold a fortune teller everyone im sorry or I would tell ya when it was going to happen. lol. BUT what we can do is try to find the best sell opportunities to catch the most amount of pips for our return ratio.
Until then. Please be cautious and know we love spikes before we turn and we love to kiss and test at least twice! Lets play both ways when the structure shows it but keep in mind the money is in the sell opportunity ;)
Here is where we will meet our top channel resistance. Depending on the momentum and volume of this move will depend if we ....
A. Break the channel up and go higher to the next level -- bringing us closer to the monthly 200 MA creating extreme sell pressure.
B. fail to break, create a false bullish flag on the 4hr, create a new low at the 127 or 161 FIB extension of the 4hr frame bringing us to the price zone off floor 1 purple horizontal line.
Price zone FIB127 @ 1.8642 zone
Price zone FIB161 @ 1.8577 zone
From here we can go straight up to a new level equal to the distance of the green vertical stick. This would create a double top (depending on where we turn around ) on the daily and 4hr time frame.
The dashed horizontal black&yellow line is what I see as the caution tape line: "CAUTION WE ARE NEARING ALL TIME MONTHLY HIGHS.
From here we are going to either turn around for a good weekly swing or we are going to create some sort of ABC correction for a drop down.
I dont hold a fortune teller everyone im sorry or I would tell ya when it was going to happen. lol. BUT what we can do is try to find the best sell opportunities to catch the most amount of pips for our return ratio.
Until then. Please be cautious and know we love spikes before we turn and we love to kiss and test at least twice! Lets play both ways when the structure shows it but keep in mind the money is in the sell opportunity ;)
