I'm expecting another down move within the GBPAUD before we get the continuation to the upside. If price manages to get to the supply level at the .886 i will look to short it down to complete the gartley pattern, if it does not get there i will probably miss the down move.
But I will not miss the buy set-up we will get once we break the "AB" wave low. Looking to buy around 1.61 which will be the completion point of the gartley pattern. The .786 retracement of the impulse that broke out of the correction. The 1.27 of "AB" wave and at a demand zone.
If price break above "XA" wave I think it will be short lived and will come back down for more correction.
But I will not miss the buy set-up we will get once we break the "AB" wave low. Looking to buy around 1.61 which will be the completion point of the gartley pattern. The .786 retracement of the impulse that broke out of the correction. The 1.27 of "AB" wave and at a demand zone.
If price break above "XA" wave I think it will be short lived and will come back down for more correction.
Comment:
Perfect bounce off supply, 1hr divergence isn't there potential to test supply again, watch for flag for another sell