Here we are getting close to the completion point of HARMONIC ABCD MOVE as well as BULLISH CYPHER PATTERN on FX:GBPAUD. The major trend of this pair has been BULLISH and these two setups provide us with the opportunity to hop on this trend. For some the risk might be too much since the cypher pattern completion point is quite far from the X point. My preferred entry would be based on the cypher pattern only and that is because cypher patterns do tend to have higher winning percentage than ABCD harmonic moves. See the chart above for more details.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
CORRECTION: See the GBPNZD trade setup that is in similar situation:
stvnj
⋅
phew, glad you updated your chart as i was starting to second guess myself!
moneymaking
⋅
Hehe stvnj, yeah sorry about that mate. I realized it after posting the chart.
moneymaking
⋅
See the GBPAUD trade setup that is in similar situation:
moneymaking
⋅
CORRECTION: I drew the harmonic ABCD move incorrectly in the chart above, see the chart below for the VALID Harmonic ABCD move that has just completed.