GBPAUD Top of overall price action, watch for bearish reversal
Updated
Hi traders:
As we can see price is currently at the top of the overall price action,
and we are getting some bearish consolidations and structures.
How the price gets there is very important,
we see the HTF parallel channel which started to form after a strong bearish move down.
Within this correctional phase, we can spot some bearish reversal structures.
Even though they are no longer within the parallel channel,
the bearish confluence and price is still valid in m eye, and I am still expecting a strong bearish reversals.
Be on the look out for LTF bearish continuation correction,
and expect price to reverse down to to the swing lows of the recent price.
As we can see price is currently at the top of the overall price action,
and we are getting some bearish consolidations and structures.
How the price gets there is very important,
we see the HTF parallel channel which started to form after a strong bearish move down.
Within this correctional phase, we can spot some bearish reversal structures.
Even though they are no longer within the parallel channel,
the bearish confluence and price is still valid in m eye, and I am still expecting a strong bearish reversals.
Be on the look out for LTF bearish continuation correction,
and expect price to reverse down to to the swing lows of the recent price.
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Comment
Exit for +1% as price formed a descending structure,
failed to push down lower.
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