GBP/AUD IS AT THE VERGE OF A MAJOR BREAKOUT.
The pair has been in a rectangle since 12 July '19, and started forming the symmetrical triangle at the end of July.
Red lines represents trendlines and also the symmetrical triangle, while the black lines represent the rectangle. The green lines are H4 support and resistance zones.
To me, the market seems to be printing lower highs and higher lows, forming a sort of symmetrical triangle. The breakout for this pattern can go either way. The pip target for the breakout is estimated to be the length of the triangle. That’s like 300 PIPS Y’all.
Oh, makes sense now! Isn’t as much as an actual thing if people don’t follow it though, right?
Who would it though that the orange buffoon would it be useful for anything?
Not quite sure I understood your response.
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It’s been a minute. GBP/AUD threw me off as it was ranging, so I lost a good amount of PIPS and decided to stay out till it breaks out of the consolidation zone. In the meantime, I ventured out and sort for a backtesting software, landed on Trade interceptor and I have been practicing my sniper moves there.
Looking forward to posting my GBP/AUD analysis, seeing as its come back for a retest of the broken trendline.
Market has broken bullish market structure, retest of this BOS went till 61.8% FIB PRZ. Market broke the bullish trendline and is currently in a sell zone. I’m waiting for a retest, probably on 38.2% as this area has confluence, then enter on the next bearish engulfing off M15.
Target 100 PIPS
I entered too early again, and had a loss of 29 PIPS!
UNBELIEVABLE! THIS KEEPS HAPPENING TO ME
DAILY ANALYSIS FOR EUR/USD FOR THE COMING WEEK
DAILY ANALYSIS FOR NZD/USD FOR THE COMING WEEK.
However, I’m wary because the price haven’t broken the LH.
