We're seeing a nice rejection off a critical zone on GBPAUD. Long term swing down to complete this harmonic patter 1:5 risk to reward.
Price may come back up to retest the high and create a double top off this zone before shooting back down.
Price may come back up to retest the high and create a double top off this zone before shooting back down.
Note
additional confluences- price broke the daily ascending trend line . The pull back is a retest. Price is also forming the right shoulder of a HNSNote
consolidation here to accumulate volume. For anyone who hasn't gone in this is a nice triple top for an entry with low risk and high rewards.Trade active
buyers are exhausted. We should see a nice drop coming this week or next week. Let's see how this weekly candle closes by fridayTrade active
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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.