FX:GBPAUD   British Pound / Australian Dollar
Look at the chart and take a look at my previous posts.

Let me know your thoughts. :)

Comments

Hi, I finally figured out how to comment :-) I'll say something a little different here. The background is I think we have just come off a 5 wave down. I thought a 5 wave up was forming till the trade tensions through a spanner in the works.

Now we are in this consolidation pattern.



I think intraday it should move down within the Schiff pitchfork I have drawn. There seems to be support at 0.5565 and the 38% Wave B retracement is being tested. It has been breached twice but come back down within the pitchfork (last upward motive section of wave A).

Based on the pitchfork, fib extension and time retracement, I've mapped out where I think this may go - so I am mildly bullish... but certainly over the next day or 2 there is potential for a mini bear trend (limited by the floor & the pitchfork bottom channel).
+1 Reply
@ck9888, hi there brother/sister lol sorry can't really tell. I got your message, sorry just been on the road. No worries at all. thank you for taking the time to contact me, always happy to help. Not too sure why it was not sending your comment, but feel free to message me any time. Took a look at your analysis, I too am still bullish on AUD. However I am waiting to see if the head and shoulders can hold as it is a longterm trend, so it is stuck in a consolidation zone for the last 3 weeks. I am sitting on my hands as I entered around 1.79040 (GBPAUD)
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