GBPAUD SHORT M15 Currency Strength setup

GBPAUD SHORT M15 Currency Strength setup

6 October 2016, 20:11
Bernhard Schweigert

GBPAUD SHORT M15 setup with Currency Strength

Markets showing most consolidations today. We see clearly on currency strength lines, the lines do not break out of MFib 100 and Market Momentum holds below Market Fibonacci 50 which means market is weak. (m5 and m15 weak market)

Still I catched GBPAUD, a Double-GAP with inside direction. GBP strength line is down, AUD strength line is up.

Remember with weak market condition we are looking to trade pullbacks

holding 50 pip, possible to close soon if GBP shows a hook, it is already at MFib -161


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