GBPAUD - Short setup
Looking for a short setup here as price is showing signs of further bearish movement:
- 38.2 % fibonacci retracement
- test of supply or resistance zone (3 touches, last one lower high)
- retest of 55 and 34 EMA's
- weak reaction off trend line support, signs of potential breakdown
- end of elliott correction wave b at fib retracement
Looking for a 4:1 risk reward trade here to the next fresh demand level at 1.72
- 38.2 % fibonacci retracement
- test of supply or resistance zone (3 touches, last one lower high)
- retest of 55 and 34 EMA's
- weak reaction off trend line support, signs of potential breakdown
- end of elliott correction wave b at fib retracement
Looking for a 4:1 risk reward trade here to the next fresh demand level at 1.72
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.