FX:GBPAUD   British Pound/Australian Dollar
290 4 5
We have been on top of this pair for months and I like to trade the next impulse higher on daily time frame as well.
For my previous posts see below:

GBPAUD; why 1 last leg lower still possible?

GBPAUD swing trade succesfull after the anticipated new low


I like to see a bullish break for a buy trade. This break will be on lower time frames first and ultimately I expect to see a break out of the daily channel. Therefore this pair is expected to present many buying opportunities once we see the first impulse higher.

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snapshot


The GBPAUD reversed sharp and my first trades were stopped out in profit. I re-entered and am still looking for at least a test of the upper zone of this daily corrective structure.
A break will be the signal for the trade we don't want to miss for a new daily high.
+1 Reply
been checking out your trades, great analysis Tim specially since I'm trying to learn from these signals and not only make money. I'm just starting to trade and I'm taking a course at a trading institute. We didn't learn about Elliott Wave though, would you recommend I learn about it? Any books you could recommend? Thanks!
Reply
I hope you guy's didn't miss this trade. Trading is not about trading a signal for me but understand the dynamic. The GBPAUD is in a corrective structure on daily time frame and hit our long term target at 2.00 in combination with a corrective wave count (extended). Then we had RBA on the agenda in line with the technical set-up. Now I only manage my 3 positions but I expect at least a test of the upper trend line which will likely be followed by a bullish break.

snapshot
+2 Reply
We saw the first break, watch for the next one.

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+1 Reply
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