benjamintrades
Short

GBPAUD Short - H&S / 0.382 Fib / Elliot Wave 5

OANDA:GBPAUD   British Pound / Australian Dollar
I am short GBPAUD on the pullback. I believe this is the start to wave 5. As well as this we've printed a nice H&S pattern that I'll be entering on the slightly riskier entry at the top of the right shoulder. However this falls in place with the retracement touching the 0.382 fib and then closing the 4HR with a bearish candle. Hopefully we can grab some decent pips from this trade.

Target 1 - 1.9560
Target 2 - 1.9400

Stop - 1.9600

Comments

Thanks Benjamin, charts are looking clean and the analysis is spot on!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out