GBPAUD (Bearish Breakout) - 4h Chart

FX_IDC:GBPAUD   British Pound / Australian Dollar
Confirmations for Elliott Impulse:
- 5 clear points
- 1 and 4 at same price (0.618)
- each retracement was confirmed with Trend-Based Fib Extension
Now after an Elliott impulse, there's always some type of consolidation, which is what we got with this bearish breakout.

I measured bearish breakout by placing 0.236 right below and we can see how it went straight for 0.886 -0.786 retracements and began bearish continuation, I expect to sell all the way to -0.27 (0.786 from elliott impulse at same price).

Good Trading. - 4h Chart
Comment: Trade is active
I measured bearish flag by placing 0.236 right below flag and we can see how the top is at 0.618, now trade is bearish all the way to -0.27 (same area as 0.382)

This trade is going tu give us our first major retracement for 1h analysis.
Good Trading. - 15min Chart
Order cancelled
Hi sir, would you have any update on this ? many thanks for the work you do ! much appreciated.
+1 Reply
DanielParra99 karolstepnikowski
@karolstepnikowski, Hello.. yes, I'll be updating idea for better entries. Thanks for the support! (at this point 0.382 has been reached, which gives us our first retracement)
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