My analysis indicates that GBPAUD is going up to at least the 2.04 area. But first let get through the 1.96 area then we'll look for other buy setups. Happy trading!
Enter after a confirmed breakout. Calculating the target for the pennant formation: Calculate the difference between the start of the trend leading to the pennant (X) and the first high of the pennant (Y) and project it upward from the low leading to the breakout at (Z). Calculating the target for wave (iii): Draw a fib extension between the low(X) and...
Feedback is always welcome!
target is the distance between the high of the triangle (A) and it's first low (B)
No idea on SL and TP though..
I'd love to get other opinions on this pair.