FX:GBPAUD   British Pound / Australian Dollar
Now that prices hit TP and stochastics in oversold conditions, i'm looking for a retrace first, not reversal, don't get it twisted, we are still in a bear market, but at the same time I will be looking for possible reversals still.

Will be watching prices retrace in hopes the magic zones 61.8 and 76.4 will be respected, if it does, I can expect more short continuation.

This is still correction/consolidation area, don't fall for the buying trap thinking this is time to go Bullish , there is no charts that support that idea. Even though you may be able to play a small buy more here and there, but don't expect much than going short.

Still sitting back and watching the markets play out before trading.

Happy Hunting.


Thanks for such a detailed analysis
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