MichaelCollins18
Long

GBP/AUD- Bullish 5-0 4 hour time frame

OANDA:GBPAUD   British Pound / Australian Dollar
Good afternoon folks, here we have GBP/AUD forming a bullish 5-0 on a 4 hour timeframe.

The measurements for a valid 5-0 pattern are:
B: 1.13-1.618
C: 1.618-2.24
D: 0.50

Price has formed at the C point of 1.76 and I'm expecting a further decline to the D point which will make this trade valid, after this I expect a reversal.

The TP level is at C point
The SL level is at the closest level of resistance to the D point.

I hope you's all have a good week
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