GBPAUD - Forming a base here
Happy New Year fellow traders!
The market has a rather volatile start on the first week, which is good news.
Not keen to touch USD pairs this week due to major events, so I am turning my interest to crosses instead.
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GBPAUD on HTF (Daily), price is currently at the previous Wave 4 range but did not test it (1.8500), so there is still a possibility of a sweep down.
Apart from that, I am more keen to think that we are bottoming here as the structure is nicely forming a base. Upside is already triggered so it is more likely poised for an up move.
The overall move could take 1-2 weeks to move up, but generally a good RR by entering here with clear invalidation.
The market has a rather volatile start on the first week, which is good news.
Not keen to touch USD pairs this week due to major events, so I am turning my interest to crosses instead.
--------------------------
GBPAUD on HTF (Daily), price is currently at the previous Wave 4 range but did not test it (1.8500), so there is still a possibility of a sweep down.
Apart from that, I am more keen to think that we are bottoming here as the structure is nicely forming a base. Upside is already triggered so it is more likely poised for an up move.
The overall move could take 1-2 weeks to move up, but generally a good RR by entering here with clear invalidation.
Comment:
Daily Chart
Comment:
First target reached. I think the up move will happen but may get a sharp pullback before that.
Trade closed: target reached:
700pip move on this. Hope you made money!