GBPAUD Bearish

14 Sep 2021

Have found the institutional candle on the schematic (Re-Distribution) from the 28th August that shows some price action that needs some mitigation. Found the 57 minute candle which was the most volumest before the big sell off breaking order flow causing another Re-Distribution. Another confirmation is that this specific candle was printed during the opening of NY which shows significant orders and good reason to come back too. Sell limit is off the 80% off the 57m and stop loss is at the extreme high of the candle. 7.4 pips risking and planning on running this down towards the extreme low which is a potential 404 pips and a 50:1 R&R. Have set an alarm at 1.89126 to give me a heads up and plan my move accordingly. Might wait for another small time frame schematic to play out to give me that extra confirmation. Hopefully this hits by NY session then melts lol. Good luck and happy trading fam!