GBPAUD - Bullish Flag Update

FX:GBPAUD   British Pound / Australian Dollar
254 4 13
Greetings Fellow Traders,

This is an update to a post I made over a month ago - Market structure has not changed and outlook remains the same. GBPAUD             has formed a Bullish Flag in the form of a price channel correction. In the next several days of trading look for the levels shown to be broken - strongly recommended to join the bulls in this move as it does look to be a significant one.

Keep an eye on those confirmed closes and buy the retest/breakout.

Bullish Flags are market structures that form during an up trend and mark a period of consolidation before the trend continues.

You can view the previous analysis here or with the link below:

Feel free to comment/like/follow.
Thanks for very nice analysis. Because of your analysis I opened a position. Though on the short side since it failed to breakout.
Just did a very similar analysis with EURSEK.
+1 Reply
Synapse GeneraldisastersInc
Thanks for the feedback, I'm glad I was able to help your own analysis with the current market structure and hopefully make you some profit :) Nice Chart! Cheers
Actually... thinking about it, even though they don't share any symbols, both GBPAUD and EURSEK seem correlated! Chances for both to continue doing the same on the daily charts seem very high. Something to keep in mind if just one of them seem to be breaking out.
+1 Reply
Synapse GeneraldisastersInc
Very interesting to see, just remember that correlation does not mean causation. Always be sure to trade the chart you are looking at :) Thanks for sharing!
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