Price is currently at support but looking very dangerous with past few days having bearish momentum.
4 day bull trap done. Let’s see if right shoulder can have a bearish Price action. Should price really crash this neckline, then price may move furiously, although it is considered a CTT
Can see that price is moving up steadily in ED channel but right now should a WR happen, it will be a power flush of many levels.
wr3b , wr2d1b , wr2w1b and 13TL.
Will also then look into GBPAUD for a swap +ve short.
A trade checklist
7 points so far. KIV.
updated 130514 1849 HRS
Once again the tx zig-zag pattern has appeared in conjunction with a hns pattern.
The Wr3B setup is about to be completed with selling pressure manifested in the head and shoulders.
I will look to transfer GBP weakness to GBPAUD n GBPCAD.
Have removed a sell limit due to fear. But i believe price is still respecting the wr3b structure, and price remains fallen out of the ED channel. Still looking for a short, but will be looking at GBPCAD instead.