NoCeilingsTrading
Long

Buy GBPAUD Multiple TimeFrame Analysis

OANDA:GBPAUD   British Pound / Australian Dollar
Although, GA is currently strong downtrend overall, it has presented a current buy opportunity.


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The weekly time frame, there was a hugh sell of last week. And after a big push to the downside, this week candlestick is ending in a doji . It has respected and found support at th 38.25 fib level. It appears that it is time for a nice size retracement.


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found support at a daily demand zone
double bottom pattern formation
it appears it will end the day in a hammer candlestick
it has also found support/respected the trend line



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it appears there is a double bottom , inside of a double bottom and another double bottom is forming inside of it (refer to the image)
-you can also make the argument of an inverted head and shoulders pattern
it has also found support/respected the trend line

Comments

I made a breakdown on it as well, my view
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Nice analysis. I agree.
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NoCeilingsTrading axellalmighty23
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NoCeilingsTrading axellalmighty23
@axellalmighty23, you can follow me for me analysis in the future
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