GBPAUD-trying to catch the big correction
This setup is similar to the GBPJPY i posted before, they are very correlated so we must be carefull no to overexpose our account.
Im expecting a big correction on all GBP crosses (GBPCAD, GBPJPY,GBPNZD, GBPNZD) but it is difficult to pinpoint an entry.
It would be better to look for entries on lower timeframes to keep SL small.
Here we can see a double bottom pattern with divergence on MACD.
We can see also a correction to the 0.8860 fib retracement, a powerfull combination.
There are two AB=CD patterns suggesting this pair is making a multiple zigzag structure about to finish.
Best regards.
Im expecting a big correction on all GBP crosses (GBPCAD, GBPJPY,GBPNZD, GBPNZD) but it is difficult to pinpoint an entry.
It would be better to look for entries on lower timeframes to keep SL small.
Here we can see a double bottom pattern with divergence on MACD.
We can see also a correction to the 0.8860 fib retracement, a powerfull combination.
There are two AB=CD patterns suggesting this pair is making a multiple zigzag structure about to finish.
Best regards.