GBPAUD Long - Harmonic patterns
For all of you harmonic aficionados out there, a nice bullish crab setup on the GBPAUD 4hr chart. I know, I know, going long on GBP is risky, but we're looking at pure price action for this trade.
Price is heading into that strong weekly resistance zone and I would wait until the BCD level (if you need an explanation, you're not a harmonic aficionado and you'll need to Google it... LOL) hits. Resist the urge of jumping in too soon, otherwise you'll be riding a red trade for a while... look for some good reversal signals in the reversal zone for a tight stop and some good R/R. Don't trade "the fear of missing the move", wait for confirmation signals, whatever you use as a personal preference.
These are not trading signals and only represent my own personal view. Please trade your own plan! disclaimer, disclaimer...
FYI, also diverging from X, I left it out of the chart...
Good luck & green trades!
Price is heading into that strong weekly resistance zone and I would wait until the BCD level (if you need an explanation, you're not a harmonic aficionado and you'll need to Google it... LOL) hits. Resist the urge of jumping in too soon, otherwise you'll be riding a red trade for a while... look for some good reversal signals in the reversal zone for a tight stop and some good R/R. Don't trade "the fear of missing the move", wait for confirmation signals, whatever you use as a personal preference.
These are not trading signals and only represent my own personal view. Please trade your own plan! disclaimer, disclaimer...
FYI, also diverging from X, I left it out of the chart...
Good luck & green trades!
Trade active
Looking for TP2 now, Shaved my position to 1/2 after hitting TP1...Trade closed: target reached
TP2 reached. Nice trade with some good profit and a solid R/R ratio.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.