Hey Traders,
Obviously GBPAUD is madly bullish on 1D, 4H and 1H! No single doubt about that.
However, on 30Min TF, it just broke structure, and that is very important cos 30Min is the fractal TF 4H and 1D traders uses in executing their trades, but that is not the show!
On 1W TF, the price is trending in a Symmetrical Triangle, and that spiky s**t we saw last week made the retest of the upper band trendline active, now the rule of Symmetrical Triangle is that, it can either go up or down, but we are talking about Weekly TF here so a lot of things can happen fractalizing the TF, you can sell, and Buy.
Breaking the market down to 30min, it just showed a very spiky Head and Shoulder pattern and the retest of the neckline just got triggered, i am looking to sell it down to retesting the Trendline, then wait if there is going to be a BOT of not.
Obviously GBPAUD is madly bullish on 1D, 4H and 1H! No single doubt about that.
However, on 30Min TF, it just broke structure, and that is very important cos 30Min is the fractal TF 4H and 1D traders uses in executing their trades, but that is not the show!
On 1W TF, the price is trending in a Symmetrical Triangle, and that spiky s**t we saw last week made the retest of the upper band trendline active, now the rule of Symmetrical Triangle is that, it can either go up or down, but we are talking about Weekly TF here so a lot of things can happen fractalizing the TF, you can sell, and Buy.
Breaking the market down to 30min, it just showed a very spiky Head and Shoulder pattern and the retest of the neckline just got triggered, i am looking to sell it down to retesting the Trendline, then wait if there is going to be a BOT of not.