A signal for traders that trade with low leverage and great patience.
For the last time, we have seen a clear and steady upward trend here, and it will probably continue for some time.
Our target is 1.8800 This is a relatively long term signal with low risk
We are predicting the Harmonic Bat Pattern to complete as shown on the 4 hr chart. Price action is showing a downward trend giving the pattern confirmation. Our strategy is to trade the 4th leg of the pattern and we will post updated with targets. FX:GBPAUD
GBPAUD has arrived at support area and there can be seen that in the h4 candle that there is no momentum to the downside, hence i am seeing a good buy opportunity with an indication of an bullish engulf candle at my buy position .
We can see 3 key levels on this pairing which took me seconds to spot on opening this chart.
The top resistance level you can see was hit many times exactly 1 year ago in March/April 2018 and look where price is currently at, it touched this level with a massive bullish candle which was followed by 2 days of bearish movement, this is no coincidence its where the...
We see the formation and completion of this AB=CD harmonic pattern on the daily chart. Price action has also reached a major support zone at the completion of this pattern. We are currently long with take profits set on the green zones. FX:GBPAUD
This's my next plan for GBPAUD in 4 hours chart timeframe. As you can see in chart we found the big falling wedge patten.
if you want to trade with falling wedge pattern the next target in the green line. the stop loss 100pips with rewards 500pips
this is the good setups for long trade. 1:5 Risk Ratio, Enjoy my trading plan!
"FROM ZERO TO HERO...
GBPAUD looks like it is setting up a textbook midweek reversal showing signs of long opportunities on the higher TF.
If this zone does not hold for the long can expect GBPAUD to break and retest to the next zone
This setup we will have to wait to develop a bit. I am looking for a slight rise to tenken sen where I will look for a confirmation of a sell. Two ways that could manifest itself is in the form of a good rejection candle with a long wick on top that closes below tenken sen, or for price to see a hard rejection there and start heading down. So we'll have to watch...