ForexRobotNation.com – Best Forex Robot & Expert Advisor Reviews Forex Robot, Expert Advisor GBP/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.85596, 1.86119, 1.86296.
Key Support Levels: 1.84322, 1.83679, 1.8300.
Daily Time Frame:
The price on the higher time frame posted a correction near the 1.86000 AUD mark and failed to break the highlighted zone to the upside. We have seen as well a doji candlestick showing that the market could reverse near this area.
GBP/AUD Medium-Term Trend: Bearish
1-Hr Time Frame:
On the lower time frame, the price posted a head and shoulders signaling a potential reversal where it entered a bearish flag formation after finding sellers near the 50% Fibonacci retracement level. A higher correction could be seen to the lower end of this pattern before a new bearish impulsive wave toward the target profits.
Sell Limit Order @ 1.85596
TP 1 @ 1.84352
TP 2 @ 1.83679
Stop Loss @ 1.86221
Trade Safely 🙂
