RaynLim

Potential Bullish and Bearish Setups

Long
FX:GBPAUD   British Pound / Australian Dollar
This week, GBPAUD introduces an element of confusion into the FX market.

On the Daily Chart, two opposing trading setups vie for attention. There's the Bearish Flag Pattern, offering a shorting opportunity, yet simultaneously, a Type2 Bullish Fib3 Bat Pattern emerges. With the right filter, one can discern which trading setup is likely to be the more profitable choice.

For those inclined towards a shorting opportunity, the Bearish Bat Pattern on the 1-hourly chart presents a viable trading opportunity.

Now, it's decision time. What's your pick? Your insights matter. Please share your perspective below!

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