GBPAUD on the 4H time frame has tapped off a very strong daily reversal zone, now we can see it has created a head and shoulders formation, and a bearish flag.
I'm going to wait for the 1-5 wave to be completed within the flag, giving us one final push up, before the decline starts.
Alternatively, you can wait for the break and retest of the low of the flag, and trade that way with price action.
@PipsOfPersia
t.me/pipsofpersia
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!
I'm going to wait for the 1-5 wave to be completed within the flag, giving us one final push up, before the decline starts.
Alternatively, you can wait for the break and retest of the low of the flag, and trade that way with price action.
@PipsOfPersia
t.me/pipsofpersia
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!