GBPAUD: Weekly 2 bar reversal indicating more losses to come?

2020-02-09 19:08:18

After hitting the high and closing the month of Jan 2020 there, we see price reversing all of the week gain in the first week of Feb. Very little value is added at the top in those 2 weeks. On the other hand, most of the trades are done at the lower end of the 2 weeks range as evidence in the volume profile. Thus indicating to me that price should be going lower. I will be looking at the smaller time frame for a SHORT entry targeting Jan 2020 low.

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