In this blog, I want to share with you some Elliott Wave charts of GBPAUD which we presented to our members. In the chart below You see the 4-hour updated chart presented to our clients on the 04/17/19. The higher degree trend of the pair is to the upside because of Bullish Sequence stamp. So our members know that the right side is higher. Consequently, we advised members that we like buying the pair.
GBPAUD ended the cycle from 01/11/19 low in blue wave (3) at 03/14/19 peak (1.88562). Below from there, we expected a pullback to occur in blue wave (4). The pullback unfolded in an Elliott Wave Double Three correction structure. We advised members that GBPAUD should continue higher and that we wanted to buy the pair. Therefore, we expected buyers to appear in the sequences of 3, 7 or 11 swings. At the 100 - 1.618 Fibonacci extension of red W-X which came at around 1.81998-1.78720 area and that was the first area for us to buy with a potential stop loss below 1.78720 level.
GBPAUD 04.17.2019 4 Hour Chart Elliott Wave Analysis
In the last Elliott Wave chart. You can see that the GBPAUD reacted nicely from the blue box area. Any trades from our blue box area shown in the chart above are risk-free by now, which means the stop-loss should be moved to break even, looking now for more upside. Please keep in mind that the 4-hour chart which I presented can have changed already. This blog should just illustrate how accurate our blue boxes are, and how our members trade our 3-7 or 11 swings strategy.
If you are interested in how to trade our blue box areas and want to understand how Elliott Wave works. Then I recommend you to get a shot on our 14 days free trial below. We present a lot of trading setups in our 3 Live Trading Rooms.
GBPAUD 05.07.2019 4 Hour Chart Elliott Wave Analysis
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