GBPAUD: Let's grab some pips in this beautiful structure
Summary:
a. Sterling is running in wave IV
b. Expected bearish wave V will reach 1.7329
c. Bearish invalidation level at 1.7926
What's up traders?
Here I provide a GBPAUD technical analysis based on my knowledge about Elliott Wave principle.
What a clean and neat wave structure we got here! Beautiful wave IV forming an expanding diagonal conforms the downside movement could be occurred this week. Decent risk to reward ratio makes me want to go short ASAP. Should I put more risk on this trade?
Disclaimer: All of the information that provided is based on sources that we believe to be reliable, but they have no guarantees. Therefore, every effort is made to ensure that the content is accurate and complete. I have a very strict money management calculation and usually I trade with (max.) 5% risk per pair to ensure sustainability and equity endurance to make money in the futures market for a long-term period. Any profits or losses that occurred based on this analysis is your own responsibilities as a trader or an investor.
a. Sterling is running in wave IV
b. Expected bearish wave V will reach 1.7329
c. Bearish invalidation level at 1.7926
What's up traders?
Here I provide a GBPAUD technical analysis based on my knowledge about Elliott Wave principle.
What a clean and neat wave structure we got here! Beautiful wave IV forming an expanding diagonal conforms the downside movement could be occurred this week. Decent risk to reward ratio makes me want to go short ASAP. Should I put more risk on this trade?
Disclaimer: All of the information that provided is based on sources that we believe to be reliable, but they have no guarantees. Therefore, every effort is made to ensure that the content is accurate and complete. I have a very strict money management calculation and usually I trade with (max.) 5% risk per pair to ensure sustainability and equity endurance to make money in the futures market for a long-term period. Any profits or losses that occurred based on this analysis is your own responsibilities as a trader or an investor.
Trade active
Trade closed: stop reached:
I failed to reacting the pattern failure. Stop level hit.