Joseph_Yabwa
Short

As Cool AsYou Like! SELL GBPAUD

FX:GBPAUD   British Pound / Australian Dollar
Well, here we are again! Market broke structure yesterday and now we are back retesting it and it looks like the market is respecting structure and now I expect the market to continue going down!

Comments

I don't think this is the case, I believe it will continue to rise. The correlation between GBPAUD and FTSE 100 is as concrete as any correlation can be. If you compare the two markets you see an inverse correlation. If FTSE 100 continues to dive then we will see a continued rise in GBPAUD.

again these trends are being influenced by an unexpected anomaly so its hard for me to choose sides on these pairs...

Let me know what you think!
+1 Reply
Joseph_Yabwa LeoThePipKing
@LeoThePipKing, Yeah i totally agree with you but the correllations are not as obvious on shorter time frames. If you are trading higher time frames then of course the correllations do come into mind but any time frame under H1 the market will move structurally according to price action.
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LeoThePipKing Joseph_Yabwa
@Barka, On that note you are absolutely right, but at the same time we are headed into uncharted territory so we'll just have to wait and see what happens.
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Nice analysis
+1 Reply
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