AC3SNFAC3S

AC3SNFAC3S

Overall market structure is to the down side with weekly market structure(White). Currently on a pullback to .618fib that can be seen with daily market structure(Magenta). Two possible scenarios to sell. Brake structure and retest at .5 fib(Orange) or form double top and shoot down(Light Blue). Target is -.618fib(Green).

AC3SNFAC3S Updated 

Structure broke weekly trendline support. Looking to retest at .5 fib to show new downtrend. Fib is drawn from weekly points. Drop down to daily for price action or 4hr/1hr for more experienced traders. Looking to drop over the next few days to next daily support.

AC3SNFAC3S

GBPAUD reached a weekly key level last week around 1.885. This is a major area of resistance. The trend is in a reversal. Look for indicator of bearish candle over taking bullish candle at Fibonacci retracement .50 drawn from 1.88815 to 1.85375.