GBP.AUD - British Pound / Australian Dollar - High Confluence

3 feb 2019

Symbol: GBP.AUD - British Pound / Australian Dollar
Timeframe: Weekly, Daily and 4 hour
Predicted Direction: Long ( 1.8400 )

GBP.AUD - British Pound / Australian Dollar updates will be available in the comments section below.

4 feb 2019

Nota

Price approaching the 4hr 50EMA intraday resistance.
Awaiting price to confirm or deny an entry in the coming hours.

6 feb 2019

Nota

Perfect example of 'stop hunting'.
The vast majority of traders would have been triggered into the market on the 4hr 50EMA bullback, stopped out some 24 hours later.
Price then stopped out those who got short because of the 4hr ascending trendline breakout.