GBPAUD EXPECTATION

Tendency: Downtrend (Bearish)
Structure: Elliott Wave | Breakout
Observation: i. Price presently going through a corrective phase after the 5 sub-waves of the Motive phase.
ii. Expecting price to play three, or a combination of three, sub-waves that make net movement in the direction opposite to the trend.
iii. We cannot ignore the breakout @ 1.88900 suggesting a further rally down.
iv. Price slicing through Moving Averages on lower time frames.
Trading plan: SELL with minimum potential profit @ 650pips.
Risk/Reward: 1/3
Potential Duration: 5 to 12 days

** Please note that Stop Loss/risk-reward ratio is subject to individual risk appetite per trade and account size.

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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