FullTimeTrader
Short

GBPAUD-channeling technique-history repeats?

FX:GBPAUD   British Pound/Australian Dollar
650 3 22
This is a weekly analysis showing a big double zigzag on this pair (im using a simplified labeling for information purposes)
We can see the same scenario happened before: the price reaching the top of the channel+bearish divergence on AO. After that a big correction happened.

The price now has reached the top of the channel, this is why i'm expecting a big CORRECTION if this setup works.

We have another channel being reached by price on D1 chart (see below).


Best regards.
Bearish Engulfing expected
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isnt the AO histogram in ur chart forming higher than the previous peak instead of making a divergence?
+1 Reply
D1 chart:
snapshot
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