GBPAUD - Forming a base here
Happy New Year fellow traders!
The market has a rather volatile start on the first week, which is good news.
Not keen to touch USD pairs this week due to major events, so I am turning my interest to crosses instead.
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GBPAUD on HTF (Daily), price is currently at the previous Wave 4 range but did not test it (1.8500), so there is still a possibility of a sweep down.
Apart from that, I am more keen to think that we are bottoming here as the structure is nicely forming a base. Upside is already triggered so it is more likely poised for an up move.
The overall move could take 1-2 weeks to move up, but generally a good RR by entering here with clear invalidation.
The market has a rather volatile start on the first week, which is good news.
Not keen to touch USD pairs this week due to major events, so I am turning my interest to crosses instead.
--------------------------
GBPAUD on HTF (Daily), price is currently at the previous Wave 4 range but did not test it (1.8500), so there is still a possibility of a sweep down.
Apart from that, I am more keen to think that we are bottoming here as the structure is nicely forming a base. Upside is already triggered so it is more likely poised for an up move.
The overall move could take 1-2 weeks to move up, but generally a good RR by entering here with clear invalidation.
Note
Daily ChartNote
First target reached. I think the up move will happen but may get a sharp pullback before that.Trade closed: target reached
700pip move on this. Hope you made money!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.