GBPAUD High Probability Sell Setup

FX:GBPAUD   British Pound / Australian Dollar
GBPAUD             is in a corrective structure which will come to an end if price break the key level which acts as resistance to this structure. If we see a breakout we should also see a new correction before price starts its rally. This correction will start when price completes a cypher or/and a bearish crab pattern. These patterns may push price lower to retest the broken level before we have a new move up.

Stoploss and profit targets as shown at the chart.

Might not make it up there.
That's my view on this mate.. The MACD deivergence makes me believe that we will soon have a breakout..
Fxprotrader PRO Fxprotrader
But if we see a breakout of that move up we shall see another move to the down and these patterns will be cancelled..
IvanLabrie PRO Fxprotrader
Or it's simply stalling, lack of momentum creating divergence.
Maybe it gets a boost from oil turning up, I don't know yet.
+1 Reply
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