Timing is key

GBPAUD 60 Apposing Forks

FX:GBPAUD   British Pound/Australian Dollar
345 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
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.

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)
sorry wrote the name wrong,, hello Timing is key
I expect a new bearish GBP leg, so with you on this one.
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
+2 Reply
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