On December 17 2020 I posted on social media @AidanFX “”watch for a possible move lower. Will be watching for selling opportunities for a move lower towards 1.77 handle. 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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