GBPAUD extending with lots of opportunities

4 Ağu 2016

GBPAUD made an impulse lower and I like to see a wave 4 consolidation today and tomorrow. This will present a reversal trade on lower time frames. Impulse-consolidation-impulse = 1-2-3. I'm not interested in a sell anymore this week, if we move lower I let that go and only focus on intra day reversal for a wave 4. Once wave 4 in red is over I like to sell wave 5 in red for a completion of wave 3 in green. Then I'll be looking for wave 4 in green reversal and wave 5 in green sell towards 1.64ish which will complete wave 5 in blue of larger degree as well as a Wave C of larger degree.

Somehow my post didn't get through the first time so this version is a little shorter, I will post my original view on the facebook page of Tim Stuyts Inc, see link below.

timstuyts.com

facebook.com/wwwtimstuytscom