$GBP vs $AUD Daily Chart.Hi-Prob. Reversal Near 1.52400 | #gbp
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Traders,
GBPAUD has been in a corrective structure since 26.10.2016 probably coming to an end, followed by the last 5th wave completing, in the bigger picture, an expanding flat pattern.
-On the main trend 1-5 (circle), 1st motive wave has ended at 1.91858. The main trend has perforce ended there as it could not have been another wave count which didn't violate the rules.
Inside expanded flat pattern:
1- Wave-(A) developed into a ZigZag, ending at 1.72146
2 - Wave-(B) developed into a Zig-Zag, ending at 2.23721, target reached extended by 1.618 wave (A).
3 - Wave-(C) is developing a 5-wave motive structure, expecting the last 5th wave to complete the 5-wave motive sequence, to complete the expanding flat pattern, as the 2nd (circle) corrective structure of the main trend.
A High-Probability reversal target is 1.52400(+/-), where many Fibonacci measurements cooperate, resuming the main trend as the 3rd (circle) motive structure.
For now there is still space for corrective wave (4) to cover before the drop.
Trade with discipline
Best
GBPAUD has been in a corrective structure since 26.10.2016 probably coming to an end, followed by the last 5th wave completing, in the bigger picture, an expanding flat pattern.
-On the main trend 1-5 (circle), 1st motive wave has ended at 1.91858. The main trend has perforce ended there as it could not have been another wave count which didn't violate the rules.
Inside expanded flat pattern:
1- Wave-(A) developed into a ZigZag, ending at 1.72146
2 - Wave-(B) developed into a Zig-Zag, ending at 2.23721, target reached extended by 1.618 wave (A).
3 - Wave-(C) is developing a 5-wave motive structure, expecting the last 5th wave to complete the 5-wave motive sequence, to complete the expanding flat pattern, as the 2nd (circle) corrective structure of the main trend.
A High-Probability reversal target is 1.52400(+/-), where many Fibonacci measurements cooperate, resuming the main trend as the 3rd (circle) motive structure.
For now there is still space for corrective wave (4) to cover before the drop.
Trade with discipline
Best
Note
Looking for some more upside to complete the correction.Short opportunity is close
Note
Price reached the expected area, I will watch for any reversal from this point. a A long-term short trade is coming.
Note
Flag broke. Look for shorts.Note
Looking for a rise up Note
Keep looking for short opportunities Note
The pair is getting ready again for a short. Watch out for a big R/R trade. Looking for sell setup Note
The pair is getting ready for the drop so don't miss it 
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