GBP/AUD 1H - If you have not been following my GA analysis then you definitely should be. As you will see we have predicted this bearish leg from the very offset and price has played out perfectly.
I am seeing that the Supply in the market is running out as volume is slowing to the downside and we are starting to see more bullishness being introduced, this is whats suggesting to me that price could be putting in a corrective wave.
Once we have the break of structure to the upside, I would like to see bullishness being put in, we could look to take part in this correction trading price up and into the Supply Zone above.
We just need to be careful when doing this as we are trading against the overall prevailing trend and at any point price could reverse if enough Demand is offloaded and the S&D balance flips in favour of supply.
I am seeing that the Supply in the market is running out as volume is slowing to the downside and we are starting to see more bullishness being introduced, this is whats suggesting to me that price could be putting in a corrective wave.
Once we have the break of structure to the upside, I would like to see bullishness being put in, we could look to take part in this correction trading price up and into the Supply Zone above.
We just need to be careful when doing this as we are trading against the overall prevailing trend and at any point price could reverse if enough Demand is offloaded and the S&D balance flips in favour of supply.