gbpaud multi timeframe analysis

FX:GBPAUD   British Pound/Australian Dollar
We became bearish as soon as we broke the resistance area. It means that we have a higher probability of going down than up. Once we decided what side of the market we are likely to stay at, let's see what bearish signals we can get at the required area from our trading system on lower timeframes. A bat pattern is a very nice signal. I'm not looking for some huge moves. A retest of recent lows (almost 300 pips) will be more than enough.
This pattern was found with Pattern Search Software (c)
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Best regards, Alexander Nikitin.
Fulltime professional trader and programmer.
around 1.9070 or towards 1.8950?
Alexander_Nikitin TOP KevinSinghDhaliwal
2 years ago
it's more then a 50% probability that we'll come to 1.8950. But keep in mind - it's only a probability.
KevinSinghDhaliwal Alexander_Nikitin
2 years ago
thats true lets see
Lower than 1.9011 is rather unlikely but we'll see.
I want to short this one as well, then buy once the retracement slows down as long as above 1.89643.
Alexander_Nikitin TOP IvanLabrie
2 years ago
It's seen on daily that we are making lower lows and lower highs. This probable downward movement shouldn't be considered as a correction. It should be considered as an impulse. To catch this impulse is the core idea of my analysis.
IvanLabrie TOP Alexander_Nikitin
2 years ago
I'm thinking the move down is a correction from a larger uptrend, but either way...let's short and make some pips ;)
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