GBPAUD – the completion of 2/B wave in the range of 1.7934We had little time to get the general trend in the daily chart, but in the 240-minutes chart, it was totally clear that a trend which has started in the range of 1.7469 has ended in the range of 1.8527, that is in the format of 5 waves. Also, the corrective movement is in the form of 3 simple waves that have completed in the range of 1.7934. Given these conditions, we should have an upward movement of 5 more waves, which the targets are 1.8307 to 1.8507.
The main confirmation for this uptrend is when the price crossing the range of 1.8218, on the contrary, the range of 1.7934 will violate this analysis
Gbpaudprediction
GBPAUD SELLGA looking like a nice sell setup, if you're not in this already look for retest of the purple box area, and rejection on the 15 min time frame. Looking like a nice opportunity to sell around this area due to the fact it is rejecting the fib levels we look out for as well descending trend line and rejection of the EMA.
Take partial profits at the given levels.
200 pip gain 4/1 RR
Trading Pathways Analysis of GBPAUD H4 Chart
The outlined white arrow pathway is the predicted pathway that the GBPAUD will follow in the coming days or weeks. Using my unique charting methods, I have been able to arrive at HIGH PROBABILITY turning points where GBPAUD will turn.
PLEASE NOTE THE ABOVE ANALYSIS IS FOR EDUCATIONAL PURPOSES ONLY. THEY ARE NOT DIRECT INSTRUCTIONS TO TRADE AND ANY LOSS INCURRED BY FOLLOWING THIS ANALYSIS IS AT YOUR OWN RISK.
Eiseprod of Trading Pathways
FOLLOW ME: GBP/AUD Short OpportunityGBP/AUD is currently at the top of a bullish channel and it appears that it's time to short (at least in the short-term) or at the very least it's time to exit longs and wait for re-entry.
Check out my other GBP posts that should be up within the next few minutes. They are showing the same thing!
COLOR KEY (which time frame each markup is based on):
RED - Monthly
ORANGE - Weeky
GREEN - Daily
AQUA BLUE - 4H
PINK - 1HLIGHT BLUE - 15M
PURPLE - 5M
Feel free to leave your thoughts in the comments below!
Make sure to BE RESPECTFUL OF ALL COMMENTS so that we can utilize this platform to help each other and to build each other up!
After all, we're all here looking to build our wealth so let's do that with a unified spirit. :)