GBPCAD LOOK FOR GOING LONG THE PULLBACK
The price went up sharply and look for the pullback with correction structure.
Now wait for the finish of correction structure at 61.80% Fib retracement to go long.
The price tries to retest previous neckline many times.
Now we look for a reversal price action for a sell set up.
Anyways, if the price breaks out and stays above the neckline, we will look for a buy opportunity.
XAUUSD - Daily Chart
1. Retest the key support zone
2. 38.20% Fib retracement
The price broke the key resistance around 1300 and headed up sharply.
Now we wait the price pullback and look for the buy set up in lower timeframe.
DAILY: Broke a flag pattern and created a long spin bar at 1.618 extension.
4-HOUR: Pullback to 0.618 retracement with a long pin bar and create a support trend line.
Now wait for breakout trend line to go short.
DAILY: GBPAUD has touched many times at daily previous neckline. That’s a good opportunity to go long again if you see some reversal price action in lower timeframe.
*RBA releases today, so this pair could have some volatile move.
DAILY: AUDUSD has touched 0.618 retracement level and dropped back two times. Now it is the third time of the same zone. However, there is a Bat Pattern at previous high too. Check the price action before enter sell.