Something for Aussie bulls.
GbpAud Daily Chart
After coming off this Month's MM3, we saw price form a reversal pattern and only broke the neckline yesterday. Monthly swing target at MM1
GbpAud H4 Chart
Market action moving averages have showing a very bearish sentiment since last week's cross. And they have been acting as good mediums of dynamic resistance. Having reached the weekly bearish target, price is now at the role reversal, 1.68000 at WM2. On that level we have confluence between WM2, MPP, DR1, 50% fib level, 21 and 200 moving averages.
GbpAud H1 Chart
Price is at a key resistance pivot for the day, DR1. With Stochastic divergence I'm expecting price to start moving low from here on. for a more conservtive entry, drop to your M15/M5 charts to start looking for reversal patterns.
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I just think to myself at times that hey young man, some of best the best days of your life haven't happened yet, and man what a wonderful feeling it is.