GBPAUD - seeing a Long, then a Short

GBPAUD is a bad and choppy pair, but I do see the possibility for the market to reach UP to the breaker, (potentially into Equilibrium) and then a move DOWN from the breaker. It's hard to say how far it'll go down as we don't really have any imbalances or EQL due to the choppiness. However we do have a bullish orderblock that may be a reversal, and on the Monthly timeframe, we have an overextended M formation that we may see the market retrace to.

COT report also supports my idea. Let me know what you think!

Comment:

I know that gray area is huge, keep in mind the setup is originally from a weekly timeframe :)

Comment:

We hit our upside target at first OB. Lets see what happens from here...

Comment:

First Target Reached.

moving exactly as expected...

Trade active:

Trade running beautifully !