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ANALYSIS:
Based on a Weekly H&S and an ICI (Impulse Correction Impulse)strategy and Entry on the 4H TF.
We can see on the weekly that GBPAUD has created a head and shoulders pattern where based on the bearish impulse that it will have a correction on the 0.382 fibonacci retracement and continue its downward momentum. We entered on the 4H TF that is also based on the major resistance level on the weekly where price in the past has been a support & resistance multiple times.
Entry: 1.86246
Take Profit: 1.82686
Stop Loss: 1.86930
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
ANALYSIS:
Based on a Weekly H&S and an ICI (Impulse Correction Impulse)strategy and Entry on the 4H TF.
We can see on the weekly that GBPAUD has created a head and shoulders pattern where based on the bearish impulse that it will have a correction on the 0.382 fibonacci retracement and continue its downward momentum. We entered on the 4H TF that is also based on the major resistance level on the weekly where price in the past has been a support & resistance multiple times.
Entry: 1.86246
Take Profit: 1.82686
Stop Loss: 1.86930
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
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.
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.