Timing is key
Short

GBPAUD 60 Apposing Forks

FX:GBPAUD   British Pound/Australian Dollar
343 6 8
Hello all,

This idea is based on 2 apposing forks and the market rejecting the upper Green ML. I have also included 2 vertical timing lines at the crossover points of both forks. The first crossover point of the lower green parallel and downward purple ML picked up the reversal to the ML. I am looking for a breakout of the small pennant formation at the green median line. Let's see how this unfolds
This pair have multiple Fibonacci reversal signals, if didn't fail, we will probably see good downside...
+1 Reply
Timing is key Technician
2 years ago
Yes Technician, Based on the previous range, the Fib 23.6% was the important 2nd lower top which confirmed the down trend. This market looks range based with a down trend bias as it seems to be respecting 1.98260 level, ie. Retracement of 1/3 as well as the 2/3 and 3/4 Gann Levels. It will be interesting to see if we get the breakdown.


snapshot
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GcNaif MOD
2 years ago
hi Tech,

Thanks for sharing, i have a similar one based on harmonics and pin bar
Short term Short : risking 40 pips to achieve 129pips (1:3.2)
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GcNaif MOD GcNaif
2 years ago
sorry wrote the name wrong,, hello Timing is key
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I expect a new bearish GBP leg, so with you on this one.
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jangseohee
2 years ago
from British Pound futures, i see that it wants to touch the lower triangle line to build a better base for rebound.
but i do not know the exact timing
snapshot
+2 Reply
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