FX:GBPAUD   British Pound / Australian Dollar
Hi All, you are probably thinking look at all this mess here - I do like to analyze to get a higher probable chance - here we see some potential patterns setting up - I have also noted some harmonic moves AB=CD and Triple Drive Moves we are seeing which also presents good opportunities for trend and counter trend trades. We know that the market moves in trend at least 30% of the time and if we can catch that 30% its good to take these opportunities. We can also look for these patterns when in trend and also in consolidation periods - we can see that we consolidated from Late July to Late August and then had this spike up - which we retraced to test previous structure highs and bounced right off. We will definitely see a small retrace off 2.21000 just above coming back to the 2.2000 level then continuation up to make new structure highs or to test the Monday Madness Spike.

The question is how long will this continue to climb, it could be mid to late January when we see a drop. Historical data shows AUD gains in FEB, We all know that its only a matter of time before AUD starts to become stronger again. Exports will increase from Australia and eventually the AUD will gain strength again. Free trade agreement is only days I believe that trying to find the best opportunities for shorting and long positions would be a better option rather than looking for only long. In saying this if you are a trader who trades trend and counter trend then this wouldn't apply, if you trade only patterns then maybe your rules tell you to trade every pattern whether the underlying trend is bullish or bearish . Hey we could see this climb to 2.7000 before any major drops. Remember its not just the indicators but the actions of every participant in the market. Whether it be a trader who sits at home or a large investment company or actions from money makers. Every participant has an impact when they all do the same thing at the same time. There is only 2 things that drive the market yes Buy and Sell

What goes up must come down right - AUDUSD             has only ever had 4 major lows from this point on and 2 of these were from major events financial meltdown and recession. 0.64000 0.6000 0.55000 and 0.47000 - the last figure will definitely not happen so where do we think the turning point will be. I predict the turning point will between 0.64000 and 0.65000 I will be looking for every long opportunity possible in this zone. Obviously when we get to this level I will start extensive analysis. Also looking at the zone for a reversal at 0.67675

Happy Trading all and that's my thoughts on AUDUSD             and GBPAUD            
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