Will previous chanel structure hold ?

FX:GBPAUD   British Pound / Australian Dollar
100 3 5
The idea is simple. If price holds the previous upper chanel I'm going to look for correction.
More divergence on the M15 timeframe. Keep in mind that in order the reversal to be confirmed price will have to break the 1.95500 making a lower low and than shall not make a higher high. Only than a reversal would be confirmed and shorts may be entered.
Trade with care.
Comment: Price currentlz holds the lower range of the PRZ. So far I see two ways for entry.
Entry 1: On break out of the PRZ zone.
Entry 2 : Wait for the what appears to be an AB=CD move to finish and than sell if the price comes back to the zone and becomes resistance.
Comment: Price keeps bouncing from the purple trend line. MACD Still is diverging, so I will keep looking for an entry when correction comes.
Trade closed: stop reached: After the AB=CD retracement i got entered the market but I was stopped out.
nice views
with the divergence being here, a breakout to the down side will be nice
marto_el VladimirRibakov
Yes, exactly what I'm waiting for. I wil be watching the lower time frames and post an update with entry and tp if I see bears starting to take over :)
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