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marto_el

Will previous chanel structure hold ?

Short
British Pound / Australian Dollar (FX:GBPAUD)  
marto_el Updated   
FX:GBPAUD   British Pound / Australian Dollar
5
3
The idea is simple. If price holds the previous upper chanel I'm going to look for correction.
Comment:
snapshot
More divergence on the M15 timeframe. Keep in mind that in order the reversal to be confirmed price will have to break the 1.95500 making a lower low and than shall not make a higher high. Only than a reversal would be confirmed and shorts may be entered.
Trade with care.
Comment:
Price currentlz holds the lower range of the PRZ. So far I see two ways for entry.
Entry 1: On break out of the PRZ zone.
Entry 2 : Wait for the what appears to be an AB=CD move to finish and than sell if the price comes back to the zone and becomes resistance.
snapshot
Comment:
Price keeps bouncing from the purple trend line. MACD Still is diverging, so I will keep looking for an entry when correction comes.
Trade closed: stop reached:
After the AB=CD retracement i got entered the market but I was stopped out.

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