GBPAUD, 4hr tf, SHS pattern to materialize
Hello my friends,
On Monday, I got 5 positions hit SL again consecutively so i took 3 days off from trading to calm my mind.
It is very important to calm your mind instead of doing revenge trade and get more losses.
Today, i found a nice setup on GBPAUD.
There is a SHS pattern formed and i think price already broken below the neckline on lower time frame.
This necklne also located near the horizontal level which i have marked, so this support now become a resistance and an area of confluences as well.
Also if i do a wave count using Elliott Wave, we are now on wave-5 to the downside so sell positions will be favorable.
Sell GBPAUD 1.8175
Stop loss 1.8230
Take profit 1.7980 (3R)
RR ratio 1 : 3
Use only 1-2% risk
Good luck
On Monday, I got 5 positions hit SL again consecutively so i took 3 days off from trading to calm my mind.
It is very important to calm your mind instead of doing revenge trade and get more losses.
Today, i found a nice setup on GBPAUD.
There is a SHS pattern formed and i think price already broken below the neckline on lower time frame.
This necklne also located near the horizontal level which i have marked, so this support now become a resistance and an area of confluences as well.
Also if i do a wave count using Elliott Wave, we are now on wave-5 to the downside so sell positions will be favorable.
Sell GBPAUD 1.8175
Stop loss 1.8230
Take profit 1.7980 (3R)
RR ratio 1 : 3
Use only 1-2% risk
Good luck
