DislikedGBP/AUD A trend reversal? Weekly, daily and 4H trend is down. As SAD traders, we have to "ANTICIPATE" the new trend compared to the traditional trend trader who is taught to "FOLLOW" the old trend (a quote from Akt). On the daily chart we can see the embedded weekly, daily and 4H demand zones. The weekly and daily demand zones are not fresh , but the price has not penetrated them so much. In all zones there is evidence of imbalance and they pass the criterion of 2:1. Also these zones are low in curve location and the price has not spent much time...Ignored
It's a good thing you brought this up. This is how I saw the GBPAUD way before I took the trade:
Weekly: break of down momentum line -zone not fresh
H4: break of down momentum line
My TP target was just at the upper H4 SZ... until I moved it to the lower SZ just being cautious due to the non-clarity surrounding this DZ going by the discussion so far.
I also would like to know what Akt thinks about this.