jackmyattFX
Long

GBPAUD Long opportunity

FX:GBPAUD   British Pound/Australian Dollar
GBPAUD             Long
-Great Risk to Reward here
-Strong down trend here
-ABCD Structure posible in play
-FIB levels act as great targets
-Only entering this at the break and close on the 1h timeframe of the blue trend line
-Watching the MAs for the blue to move to the upside
-Key weekly support level of 1.9400 and psychological level is important if this holds, another confluence to long
-This could be a big move to the upside OR a retrace as shown by the arrows drawn
-Multiple targets important so split up your trades
-Eyes specifically in fib level 0.618 because look left price support becomes resistance
-Remember every moment in the market is unique anything can happen
Comment: Only entering at the break and close above the trendline on the hour 1 chart....because if you look if we break the descending triangle we could see even more shorts :) Don't jump the gun people :)
Comment: Shorts only for now
Comment: Keeps trying to break to there upside
nice analysis thanks
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