GBP/AUD Buy to Sell!
The super high time frame showed exhaustion on the (6M) chart. Fib the previous candle and we get a great target down to the discounted area (50%). However Price will need to pullback first from this past month of selling. I am looking for price to buy up at least 384 pips to start the new quarter before turning around and sell down to the discounted area of 1.8034 ish. That is about a 1300 pip drop just in time for Christmas! If you decide to take this trade set up. Please use Proper Risk Management!! These higher time frame set ups "always" play out. The trick is to get the timing right (If you can correlate TFs you can make a killing) I suggest breaking your positions size up and having several entries. The buy up is only building Equity up for the real move which is the sell back down...I will NOT take profit until I get a CHoCH and I know the market is actually selling. Good Luck Traders
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