CharlieFx96
Short

Bullish Crab - Short - Watch for Fork Break! + Pattern!

FX:GBPAUD   British Pound / Australian Dollar
Currently retracing from .382 fib level, look for price to bounce off the next .382 for trend to continue downwards.
Or if it breaks, wait for the price to move to the blue line of the fork,
from 2.08158 to the . 382 retracement at that level and then continue lower!
Overall POSITIVE downtrend!

If Head and Shoulders pattern completes, look to take off profit at the .782 retracement level! (Set SL just under the last shoulder peak & Enter just under the LOW of the peak for the best entry point.

All the best in your trading!

CharlieFX
Comment: * Excuse me, " Last shoulder completes at around .236 retracement"
Trade closed: target reached: 3 targets reached! Trade closed.
Trade active
Yes thats right!

CharlieFx
Reply
Hi.. I currently have a long with tp 2.10459 and looking for a reversal around 2.10840-950.. if its forming a head and shoulder pattern.. shouldn't it reverse from 2.11019 (the white dotted line in your chart)..As i can see the left shoulder and the head and now its making right shoulder... I am new and learning, so your input would help me understand better. Thanks
Reply
ddp922 LearningForex
Tighten your stops in profit or bail. GBP as a whole is very weak, AUD is the stronger currency out of these two. It's easy to get caught up in what AU could or might do, just remember which is the stronger.
Reply
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