GBP/AUD - Makings of a 5-0

After the Cup & Handle, i decided to scale back the chart so I can see the bigger picture and I've noticed a potential bullish 5-0 pattern.

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Price could retrace to the down trendline (1.64398) area and bounce back up. It's currently found some resistance at 1.67209 (previous resistance in January and early February)

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Price did end up falling like I predicted but I'm still long on this pair, I'll update you as we go on.

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Watch how the price moves during today, there's a lot of resistance at 1.65759 breaking past this point will mean another retest at 1.67209. If price breaks this point we're safe to go long alternatively if price breaks the upwards trendline we could see a bounce back up from the pitchforks middle line (downwards trend line) or a dive to 1.59024.

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Let's see if price can breach resistance :), if it closes above it may act as support for the rest of the pattern.

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One of my strongest trades to date running with 500+ Pips at the moment

Trade chiuso manualmente

Price is due a retracement and I'm running with 700+ Pips, I'm banking them and wrapping this trade up. Well done to anyone who stuck it out!

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It's not everyday you do a 1000+ pip move, the trade is almost finished. This is one for the books :)

Trade chiuso: obiettivo raggiunto

ashddylan

Pubblicazioni correlate

GBP/AUD Cup & Handle

di ashddylan

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