Currently @1.8207 and waiting for the break of the descending wedge and continuation to the 1.8100-20 level. The ATR (Average True Range) for the pair is currently at 104 pips.
If we look at the daily chart of the GBPAUD, and identify the current channel being worked on, we can see where our potential target could be @1.8100 level (bottom of the channel).
In the 240-min chart we are waiting for the Gartley to be completed and also points to the same level of 1.8111-8100. The direction will be the break of the descending wedge. Potential short entry @1.8180 – STOP 1.8223 and a Target of 1.8110-8100
IMPORTANT DISCLAIMER:
These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade without proper research on the asset. This is an opinion ONLY – and not a trade call, but this analysis may lead you to a trade. The information contained on this document does not constitute a solicitation to buy or sell an asset by FOREXTRADINGZONES.COM.
DO NOT TRADE WITHOUT STOPS
If we look at the daily chart of the GBPAUD, and identify the current channel being worked on, we can see where our potential target could be @1.8100 level (bottom of the channel).
In the 240-min chart we are waiting for the Gartley to be completed and also points to the same level of 1.8111-8100. The direction will be the break of the descending wedge. Potential short entry @1.8180 – STOP 1.8223 and a Target of 1.8110-8100
IMPORTANT DISCLAIMER:
These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade without proper research on the asset. This is an opinion ONLY – and not a trade call, but this analysis may lead you to a trade. The information contained on this document does not constitute a solicitation to buy or sell an asset by FOREXTRADINGZONES.COM.
DO NOT TRADE WITHOUT STOPS
