GBPAUD Short Trade Setup
Updated
Hello traders.
Like all other GBP pairs, GBPAUD is making a weekly corrective structure. After correction, it will make its weekly down impulse. But I think there is a chance for one more up. As you can see inside of C wave we have 123 sofar, and I'm looking for short trade setups because my expectation is one more drop to the trend line. But 4th and 5th waves are optional, so it can just fall. Wait for a correction before taking any short trade.
Like all other GBP pairs, GBPAUD is making a weekly corrective structure. After correction, it will make its weekly down impulse. But I think there is a chance for one more up. As you can see inside of C wave we have 123 sofar, and I'm looking for short trade setups because my expectation is one more drop to the trend line. But 4th and 5th waves are optional, so it can just fall. Wait for a correction before taking any short trade.
Note
I hope you took the trade after correction. If you did, move your stop-loss to breakeven.
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