GBPAUD and GBPNZD Reversal Set Ups
With all the craziness happening in the equity markets, been looking to the Forex market for some set ups pertaining to my system.
GBPAUD had a fake out pattern confirmed. We had a fake out and then a close below this fake out candle. Again, this is why we await candle closes. To avoid being faked out. Wicks are telling, but it is the second candle that matters and gives us the trigger. We got that break, and now awaiting our first lower high swing. Trigger for a short already there, but if you are not in yet, I would await the lower high to form here.
GBPNZD is also looking tempting here. A nice uptrend with well defined higher lows and higher highs. We are then seeing a test of a previous higher low swing level and it seems we may make a head and shoulder pattern here. At a very important support/flip zone as well. Will be awaiting the break and close here.
GBPAUD had a fake out pattern confirmed. We had a fake out and then a close below this fake out candle. Again, this is why we await candle closes. To avoid being faked out. Wicks are telling, but it is the second candle that matters and gives us the trigger. We got that break, and now awaiting our first lower high swing. Trigger for a short already there, but if you are not in yet, I would await the lower high to form here.
GBPNZD is also looking tempting here. A nice uptrend with well defined higher lows and higher highs. We are then seeing a test of a previous higher low swing level and it seems we may make a head and shoulder pattern here. At a very important support/flip zone as well. Will be awaiting the break and close here.
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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.