GBPAUD Continuation Long into the next VA
Price finally BO of the sideways more than 2 weeks during sideways consolidation.
With no significant area to the left until the next VA, I am patiently waiting for a H1 continuation pattern to go long.
There are 2 potential levels for a turnaround, the 1st at 1.9295 and the second at 1.9254. Best case we get a bigger H1 3-touch consolidation which taps into the lower area, simultaneously retesting the upper bound of the consolidation before continuation long.
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Glossary:
VA – Value Area
Liq.P – Liquidity Point
BO – Break-Out
EO – Entry Order
H1 – Hourly Time-frame
M15 – 15min Time-frame
LTF – Lower Time-frame
HTF – Higher Time-frame
Magenta horizontal Ray – Area of Interest
Magenta rectangle – Gap / Area of Significance
Green Path – Preferable PA
Orange Path – Acceptable PA
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With no significant area to the left until the next VA, I am patiently waiting for a H1 continuation pattern to go long.
There are 2 potential levels for a turnaround, the 1st at 1.9295 and the second at 1.9254. Best case we get a bigger H1 3-touch consolidation which taps into the lower area, simultaneously retesting the upper bound of the consolidation before continuation long.
***********
Glossary:
VA – Value Area
Liq.P – Liquidity Point
BO – Break-Out
EO – Entry Order
H1 – Hourly Time-frame
M15 – 15min Time-frame
LTF – Lower Time-frame
HTF – Higher Time-frame
Magenta horizontal Ray – Area of Interest
Magenta rectangle – Gap / Area of Significance
Green Path – Preferable PA
Orange Path – Acceptable PA
***********
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