On December 17 2020 I posted on social media @AidanFX “GBPAUD watch for a possible move lower. Will be watching for selling opportunities for a move lower towards 1.77 handle. GBPAUD break below 1.7770 can push the pair lower towards 1.77 handle. Watch for possible selling opportunities.”
The chart below was also posted on social media @AidanFX December 17 2020 showing the possible bearish patterns. Both the light blue and pink bearish patterns triggered SELLS perfectly in the green supply/demand zone. The supply/demand zone acted as a good resistant area where price can rebound and react with a move lower. More added reason the pair could push lower was bearish divergence patterns (black) also formed in the same confluence area supply/demand zone and price breaking below the trend line gave me more confidence to post on social media the pair would push lower and I advised traders to watch for selling opportunities.
GBPAUD 1 Hour Chart December 17 2020
GBPAUD eventually moves lower and on December 20 2020 price hits the 1:2 RR target at 1.7606 from 1.7806 for +200 pips. If you followed me on social media @AidanFX you too could have caught the GBPAUD move lower. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100%, is that we are RIGHT more than we are WRONG.
GBPAUD 1 Hour Chart December 20/2020
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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