Forming lower highs after failing to continue above the green zone. Recently broke bellow the up trend line and in a pull back lost strength and formed an indecision candle. It should come and fill in the price void bellow its current consolidation. the T/p s are the pink lines, marking previous levels of demand looking to take 50% at first t/p which is also an IC on the daily time frame. Its currently bellow the 200 day moving average so shows its in a bears market so this could be a perfect ease for a sell. Price looks like it could be forming a head and should should this sell could form the right shoulder so I'm not too sure how long trade could last, thus why I'm take 50% at t/p 1 then closely watching it. Overall could be a nice swing :]
Comment:
On the other hand if price does rise and breaks above the green zone ill buy on the ease
Comment:
If im going to be honest, GBPAUD is playing around too much. At this point if a break bellow does occur then im 80% sure it would only reach TP1. The most likely outcome now is the right shoulder is formed and we start the uptrend. ONLY TIME WILL TELL
Comment:
Now time has told its story and GBPAUD came to T/P 1 as i said now it pulled back harddd.
Comment:
And my as i said i was sure GBPAUD would hit T/P 1 which it did and shot back up, i saw all this coming. as GBPAUD was reluctant to break earlier after many tests of the support