Wynloots14
Long

GBPAUD Long - Harmonic patterns

FX:GBPAUD   British Pound / Australian Dollar
48 0 5
For all of you harmonic aficionados out there, a nice bullish crab setup on the GBPAUD             4hr chart. I know, I know, going long on GBP is risky, but we're looking at pure price action for this trade.

Price is heading into that strong weekly resistance zone and I would wait until the BCD             level (if you need an explanation, you're not a harmonic aficionado and you'll need to Google             it... LOL) hits. Resist the urge of jumping in too soon, otherwise you'll be riding a red trade for a while... look for some good reversal signals in the reversal zone for a tight stop and some good R/R. Don't trade "the fear of missing the move", wait for confirmation signals, whatever you use as a personal preference.

These are not trading signals and only represent my own personal view. Please trade your own plan! disclaimer, disclaimer...

FYI, also diverging from X, I left it out of the chart...

Good luck & green trades!
Trade active: Looking for TP2 now, Shaved my position to 1/2 after hitting TP1...
Trade closed: target reached: TP2 reached. Nice trade with some good profit and a solid R/R ratio.
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