GBPAUD Possible Long (possible 250 pip move)
Very Simple analysis. It might look like a lot but here is the process I go through.
I go to the Daily Chart, and find any trend lines and also draw support/resistance.
I then look for a 1HR Harmonic, sometimes 4HR to complete at or near these regions. Within that harmonic I look for:
Divergence
Candlestick pattern
Reversal Chart Pattern
I look for them in or at the PRZ of the Harmonic.
Right now we have a Bullish Bat setup, but price action still looks strong on the seller side in terms of the 1HR, I want to see divergence hold up, if we get that we should also get a Three Drives Pattern completing around 1.8220 (look for a low that extends 1.27-1.618 from the #2 swing low)
From that point it is just looking for a Candlestick Signal. Then I will be looking for the .618% Target as TP1.
But let's see how the markets look tonight first :)
ALSO, I would not rule out the idea of this bat extending all the way down to the 1.13 of XD.
I go to the Daily Chart, and find any trend lines and also draw support/resistance.
I then look for a 1HR Harmonic, sometimes 4HR to complete at or near these regions. Within that harmonic I look for:
Divergence
Candlestick pattern
Reversal Chart Pattern
I look for them in or at the PRZ of the Harmonic.
Right now we have a Bullish Bat setup, but price action still looks strong on the seller side in terms of the 1HR, I want to see divergence hold up, if we get that we should also get a Three Drives Pattern completing around 1.8220 (look for a low that extends 1.27-1.618 from the #2 swing low)
From that point it is just looking for a Candlestick Signal. Then I will be looking for the .618% Target as TP1.
But let's see how the markets look tonight first :)
ALSO, I would not rule out the idea of this bat extending all the way down to the 1.13 of XD.