Rick_69ro

GBPAUD Daily - prepare for a big long.

Long
FX:GBPAUD   British Pound / Australian Dollar
Reason - on daily chart it has touched twice the median line of Andrew's pitchfork and it also created a beautiful RSI divergence.
Comment: Stand by, hold your horses :). Days of volatility will come, it could hammer it to 1.61100 briefly.
Comment: Don't rush yet into buying. We need to touch 1.61 tomorrow as a last hammer. Expect lots of volatility.
Comment: Well guys we had a hell of a hammer down to 1.61600. I failed by 50 pips but consider them on my account. Feel free now to go LONG above 1.61500. Of course you can start load longs now if you like a bit of adrenaline :))
Comment: Sorry: above 1.62500
Comment: This one goes great, as planned. The key level was 1.62500. Once the price stabilized above it, it took off. Now goes enjoy thr LONG pips. :)
Comment: Very stubborn this pair. Now after the last drop to 1.61800 there is a Hidden bullish divergence on 4H chart. So we should get back up to 1.63...
Comment: Right back at 1.63. Good...Now it looks like it needs to go unde 1.61 before going up again. During the following two days things will be volatile. I would stay out or only go long from 1.61 or below.

Comments

It is stabilizing above 1.62500. Long positions are safer now.
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I'm looking at 16110 - before the bounce up
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@Vimalk, yes there it is a descending channel too.
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