GBPUSD-Weekly Market Analysis-Oct19,Wk3Nothing much for me to look for on the smaller timeframe, for countertrend trader you may have to wait for a retracement on the smaller timeframe for a buying opportunity.
On the daily chart, a bearish butterfly pattern forming up within the sell zone. I'm definitely interested to see the development of this setup and might just participate in it.
Bearish Butterfly
Trade Ideas Educator: GBPAUD ButterflyA trend trading opportunity setup once again on GBPAUD chart. The bearish Gartley has already in a valid state for a selling opportunity but I'm just not comfortable for such a strong bullish candle close before market close on Saturday. I would need more confirmation for this.
This trade decision will definitely be an epic 1 for me as it either is a great call for the "Great Escape" and walk out of the market unscathed or it will be the greatest miss in trading of my life.
Alternatively, I can always wait for the bearish Butterfly Pattern setup at a much higher price with a better reward:risk.
What's your call? Comment down below.