FX:GBPAUD British Pound/Australian Dollar
I am expecting 5 waves structure in the channel. In case price rises before touching my price action line then i will look for structure change and possible pattern formation. Currently i am expecting corrective wave and then sell breakdown and trend continuation setup on upper channel line
Comment: Break up will change structure
Comment: Price testing my reversal point and i am watching for price action. I think you guys remember that i was expecting corrective bullish wave but price rising aggressively and impulsively and it may breakup and may change the structure only valid sell setup may form if price stay and hold that reversal point and give us signal that it is not going to break up then we will look for sell currently we are watching for price action either we are going to break through and going to change structure or price holding this reversal point here is the update guy hope this will help much better.
Comment: If not in get in on breakout reversal pattern forming.
Comment: This descending channel has changed itself but not too much break up the trend line will give signal that its changing it completely. Short still in favour i am holding my short from trend line stop outside the trend. /x/YO7YURjr/#.
Comment: Details on the chart
Comment: So far so good price did not break up and we are still in corrective structure. Bearish impulse on its way. We have two possible formation if i will see trend continuation pattern then i will look for sell and if i will see trend reversal pattern then i will look for buy here is the update.
Comment: No early jumping please. wait for the right time.
Comment: Remember we are going against to the trend so no early jumping please.
nice pips Wave!, I was asking @piptamil if he already jumped in for LONG without confirmation
Yellow line has zero value mate. If you dont see pattern and he dont see what pattern is there and how these patterns behave and what are their ranges then you need to understand the patterns not the yellow lines mate. remember yellow lines have zero value on my charts. These lines only tells me what pattern is there nothing else i dont see any change in the pattern pattern is still valid and it can further up if it does not break down with solid move and can break down from top in that case it is still a valid pattern. So yellow lines have zero value.
Mate, please take it easy. Nobody is attacking you, I have zero interest in doing that. I was just trying to tell piptamil that going LONG on that false breakup wasn't the best idea. I am learning here, thanks to you and other traders that share their ideas an knowledge in this site, that's why I follow you, same for all the other users that follow you here and on youtube. If we all knew everything nobody would be following anyone right? Peace bro.. :)