On the Weekly time frame we can see that GBP has just hit the bottom of a well-defined channel going back several years. We are also at WS2 support and we had a bounce from this area last January. I'm in this market from 2.0092 with a b/e STOP with an open ended target. I'm going to leaving this trade for as long as possible as as 2.0542 is the top of the Daily...
Potential reverse at this zone due to :-
1- Completion of Butterfly pattern .
2- Completion of Carb pattern.
3- Completion of ABCDpattern .
4- Valid structure level.
5-RSI oversold
FX:GBPAUD
Wait a test of previous structure after the breakout;
BAT:
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD
iMPULSE LEG:
Wave 2 = 61.8% of wave 1 (Prices usually do not retrace more than 61.8% of the wave one gains;
Can never exceed the start of wave 1);
wave 3 = 161% ext of wave 1 (can...
Possible buy opportunity with target 2.50:
- Upside channel
- Round number 2.0
- Proved on history S/R zone
- 50% Fib retracement
Buy from 1.9777 and higher.
If price will go down 1.9777 - it will invalidate analysis.
WAVE 4 to be completed soon on the weekly chart. Price should correct up to the 50% or 61.8% Fibo Level. If price breaks below the 1.99 level then price might get to 1.92 before going NORTH. A close above 1.99 should represent the beginning of the 5th Wave.
Wait for confirmation.
Apply due diligence.
WAVE 4 to be completed soon on the weekly chart. Price should correct up to the 50% or 61.8% Fibo Level. If price breaks below the 1.99 level then price might get to 1.92 before going NORTH. A close above 1.99 should represent the beginning of the 5th Wave.
Wait for confirmation.
Apply due diligence.
FX:GBPAUD
CRAB
Point B:
38.2% to 61.8% XA
Point C:
38.2% to 88.6% AB
Point D:
161% ext XA
224% to 316% ext AB
Target:
TP1 61.8% CD
TP2 127% CD
Safe Trades;
FX:GBPAUD
Bullish Gartley under development;
GARTLEY
Point B:
61.8% can not touch 78.6% XA
Point C:
38.2% to 88.6% AB
Point D:
78.6% XA
127% ext AB
Target:
TP1 38.2% AD
TP2 61.8% AD
Safe Trades;
I would really appreciate any comments or thoughts on this analysis, what are you missing here, if there is anything unclear. Your time is greatly appreciated! Thank you.
It appears that GBPAUD reacted on the Weekly S and triggered some buy orders sitting near by 2.02 levels. This was also a previous level of support from the start of this year. Generally I would...
FX:GBPAUD
BAT:
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD
GARTLEY
Point B:
61.8% can not touch 78.6% XA
Point C:
38.2% to 88.6% AB
Point D:
78.6% XA
127% ext AB
Target:
TP1 38.2% AD
TP2 61.8% AD
Safe trades;
FX:GBPAUD
Sell the Bat if and when completed;
Buy the 61.8% retracement;
BAT :
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD
Safe Trades;
