Fxprotrader
Short

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.

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IvanLabrie TOP
9 months ago
Might not make it up there.
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Fxprotrader PRO IvanLabrie
9 months ago
That's my view on this mate.. The MACD deivergence makes me believe that we will soon have a breakout..
snapshot
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Fxprotrader PRO Fxprotrader
9 months ago
But if we see a breakout of that move up we shall see another move to the down and these patterns will be cancelled..
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IvanLabrie TOP Fxprotrader
9 months ago
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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