Hey Traders, FX:GBPAUD is about to start the 1st impulse of a small or big corrective structure.
Be careful with the buys because we have a high probability chance of breaking the low once more. In all the cases, an up move is needed here and if you get in and market starts to go in your direction, try to take partial profits and leave the rest at break even. This is a short term trade and it can turns out to be a long term trade, depending on how market performs.
P.S. Do not think that market cannot go lower, wait for your buy setups before you jump in. If market breaks the low once more, look for buy setups.
If you want us to post more charts, setups and explain more about the next move, make sure to follow us, like and comment.
At "We Trade Waves" we are 2 partners, Alain M and Tee S. After experimenting most of the known theories over the past 12+ years, we came to the conclusion that not a single system is powerful enough to make you a consistent profitable trader so we have created our own unique system which is a combination of Wave Analysis, Elliott wave theory, Price action, Market structure, Order blocks, Levels and our findings.
What we are sharing here is only our point of view on what could be the next move in the market based on our wave analysis concept so this is a directional bias and not signals...
DO NOT FORGET OUR 4 GOLDEN RULES:
1) Do not over-risk 2) Do not over-trade 3) Do not trade without stop loss 4) Never ever add to losing position
If you want us to post more charts, setups and explain more about the next move, make sure to follow us, like and comment.