GBP/AUD - Makings of a 5-0

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After the Cup & Handle, i decided to scale back the chart so I can see the bigger picture and I've noticed a potential bullish 5-0 pattern.

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ملاحظة

Price could retrace to the down trendline (1.64398) area and bounce back up. It's currently found some resistance at 1.67209 (previous resistance in January and early February)

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ملاحظة

Price did end up falling like I predicted but I'm still long on this pair, I'll update you as we go on.

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ملاحظة

Watch how the price moves during today, there's a lot of resistance at 1.65759 breaking past this point will mean another retest at 1.67209. If price breaks this point we're safe to go long alternatively if price breaks the upwards trendline we could see a bounce back up from the pitchforks middle line (downwards trend line) or a dive to 1.59024.

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ملاحظة

Let's see if price can breach resistance :), if it closes above it may act as support for the rest of the pattern.

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ملاحظة

One of my strongest trades to date running with 500+ Pips at the moment

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تم إغلاق الصفقة يدويًا

Price is due a retracement and I'm running with 700+ Pips, I'm banking them and wrapping this trade up. Well done to anyone who stuck it out!

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ملاحظة

It's not everyday you do a 1000+ pip move, the trade is almost finished. This is one for the books :)

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