Republished for easier viewing: GBPAUD LONG H4/H1
Republished for easier viewing on single pane
Buyers are in control
1st set of pullback complete
weaker pullback volume than impulse
Pullback momentum has slowed
Entry: 1.93711
Target: 1.95151
Target 2: 1.96204 (if momentum warrants)
Stop Loss: 1.92689
Need to have before entry: looking for return to the entry box approx. 3-7pm GMT Dec 17, loss of momentum, then rollover to the upside, then wait for pullback and entry on 1st or second test of support.
Plan:
1. If price doesn't pull back but makes a new high and holds above target then this plan is invalidated
2. If price returns to the entry box, we'll look for rollover to the upside then entry
3. if price returns to the entry box but momentum DOESN'T die and transition to the upside, this plan is invalidated.
Buyers are in control
1st set of pullback complete
weaker pullback volume than impulse
Pullback momentum has slowed
Entry: 1.93711
Target: 1.95151
Target 2: 1.96204 (if momentum warrants)
Stop Loss: 1.92689
Need to have before entry: looking for return to the entry box approx. 3-7pm GMT Dec 17, loss of momentum, then rollover to the upside, then wait for pullback and entry on 1st or second test of support.
Plan:
1. If price doesn't pull back but makes a new high and holds above target then this plan is invalidated
2. If price returns to the entry box, we'll look for rollover to the upside then entry
3. if price returns to the entry box but momentum DOESN'T die and transition to the upside, this plan is invalidated.
Comment:
scenario #3 is possible. Lots of momentum to kill and transition to an upswing before entering.