GBPAUD Continuation Long into the next VA
Price finally BO of the sideways more than 2 weeks during sideways consolidation.
With no significant area to the left until the next VA, I am patiently waiting for a H1 continuation pattern to go long.
There are 2 potential levels for a turnaround, the 1st at 1.9295 and the second at 1.9254. Best case we get a bigger H1 3-touch consolidation which taps into the lower area, simultaneously retesting the upper bound of the consolidation before continuation long.
***********
Glossary:
VA – Value Area
Liq.P – Liquidity Point
BO – Break-Out
EO – Entry Order
H1 – Hourly Time-frame
M15 – 15min Time-frame
LTF – Lower Time-frame
HTF – Higher Time-frame
Magenta horizontal Ray – Area of Interest
Magenta rectangle – Gap / Area of Significance
Green Path – Preferable PA
Orange Path – Acceptable PA
***********
With no significant area to the left until the next VA, I am patiently waiting for a H1 continuation pattern to go long.
There are 2 potential levels for a turnaround, the 1st at 1.9295 and the second at 1.9254. Best case we get a bigger H1 3-touch consolidation which taps into the lower area, simultaneously retesting the upper bound of the consolidation before continuation long.
***********
Glossary:
VA – Value Area
Liq.P – Liquidity Point
BO – Break-Out
EO – Entry Order
H1 – Hourly Time-frame
M15 – 15min Time-frame
LTF – Lower Time-frame
HTF – Higher Time-frame
Magenta horizontal Ray – Area of Interest
Magenta rectangle – Gap / Area of Significance
Green Path – Preferable PA
Orange Path – Acceptable PA
***********
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.