Mikoxl.
Long

GBPAUD is in doubt, doubt means patterns. Any bull patterns?

FX:GBPAUD   British Pound/Australian Dollar
In my previous post "Stophunters at the ready.." I was expecting a bullish bat formation. The breakout appeared to be false and the market was already pricing in another rate cut of the RBA. (see note 1 on the cart).

However, the RBA decided not to cut the rate recently. And sure enough, the market failed to continu its path to the north. (see note 2 on the chart). So if the market is in doubt to head further north, it should be consolidating. If it is consolidating, it could setup some nice harmonic patterns as long as the price does not violate point X and point A yet.

With that in mind a bullish bat pattern is still valid. And now with a distinct ABC             has taken place, a completion of the gartley pattern line up very well with that same PRZ. So I've added another completion point to the PRZ. Now my PRZ is defined with the following:

a 0.236 retracement at 1.8694 (2013-03)
a 0.5 retracement at 1.8618 (2014-09)
a 0.618 retracement at 1.8685 (2014-11)
a 0.786 retracement at 1.8700 (2015-01)
a 0.886 retracement at 1.8532 (completion bull bat )
a 1.272 extension of move BC             at 1.8500 of the gartley (completion of the gartley with Akil Stokes method. Not Carney's)

This gives me a zone of 200 pips. However, if i'm taking a shot to go long I would prefer the completion of the patterns as my entry point.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out