Pound Aussie

Good Evening Dynamic traders,

Tonight I am looking at a big moving currency pair and therefore on a smaller timeframe, to try and capture some quicker profits.
My timing for trading is a little out of sync with what you have been taught by our Mentors, but for me at present these type of pairs provide good opportunities and being as I am at my computor now I can monitor the trades closely.
The currency pairis the GBPAUD on a 4 hour timeframe chart and at present is standing at a fib reversal with an OB and resistance zone just above, and nearing a fib level for the wave count.

I have not got confirmation yet for an entry although the one hour chart is showing OB Stochastic but in AdvancedGet is showing a false bar and we are nearing the first of the good '00' which are in the resistance zone.

We have medium impact news out very soon in Australia which could affect the Dollar so I will assess the situation after this for my trading.

As always, please do your own analysis for any trades.














Charts courtesy of TradeStation.

Good luck with all your analysing.

Clayton Farnworth.