GBP/AUD LONG #1

GBPAUD has been showing plenty of bullish momentum going into 2020; knowing the direction of the market can create a valid bias of where price may move next. As I construct a multi-timeframe analysis, I incorporate the Wyckoff Logic philosophy. Looking at G/A on the hour timeframe, there was a clear break of structure over the NY/London overlap (PST), going from 1.88500 to 1.89500. Since then, price has been accumulating; Therefore, we now wait for smart money to drive price down, activate sell stops, clear out those whom broke even and/or placed tight stop losses. Ultimately, before entering phase D in the Wyckoff Schematic. Taking price to approximately 1.91500. Until then, we wait and see what the market tells us moving forward.

Trade Safe, Mauricio