GBPAUD, 4hr tf, channel elliott wave analysis
Updated
Hello my friends,
I spotted a good setup on GBPAUD and i think it is worth to try taking it.
This is a 5.5R trade setup which rarely come so we will try to capitalize it.
As you can see price moving inside a parallell channel and we could try counting each movement with Elliott Wave counts.
The movement respecting elliott waves count as clear as sky.
We are now finishing wave-4 and could start to continue going down along with wave-5.
We will use wave-1 as our invalidation because the rule of wave-4 is it will never touche wave-1 area.
Sell GBPAUD 1.8190
Stop loss 1.8230
Take profit 1.7970 (5.5R)
RR ratio 1 : 5.5
USe only 1-2% risk
Good luck
I spotted a good setup on GBPAUD and i think it is worth to try taking it.
This is a 5.5R trade setup which rarely come so we will try to capitalize it.
As you can see price moving inside a parallell channel and we could try counting each movement with Elliott Wave counts.
The movement respecting elliott waves count as clear as sky.
We are now finishing wave-4 and could start to continue going down along with wave-5.
We will use wave-1 as our invalidation because the rule of wave-4 is it will never touche wave-1 area.
Sell GBPAUD 1.8190
Stop loss 1.8230
Take profit 1.7970 (5.5R)
RR ratio 1 : 5.5
USe only 1-2% risk
Good luck
Trade active
Trade closed: stop reached
hit SL
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