GBPAUD - Update on Short Opportunities
Following our previous analysis on the weekly timeframe (www.tradingview.com/...eframe-Short-Update/), we believe that on the
GBPAUD
pair, some short opportunities might be coming along soon, or very soon.
In detail, on the 4hr timeframe, the pair had a first impulse to the downside, which is being then followed by it's own correction, in what currently seems to be a simple "abc" correction. There is still a slim chance that, on the daily timeframe, the pair could go up to break the previous daily top, as this, together with GBPCAD, is the only pound pair that has not yet broken the top. To be 100% accurate, GBPAUD has double topped.
Nonetheless, the structure tells us that this possibility, although slim in chance, still exists.
Having said that, because in any case the corrective structure of the aforementioned downward impulse is already completed as it is, from this moment on every sell opportunity that presents itself is one worth taking. Let us remind all traders that we are expecting, at some point in time, considering the bigger structure currently at play on the weekly timeframe, a big movement to the downside, on this pair.
Updates on lower timeframes will follow
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
GBPAUD
pair, some short opportunities might be coming along soon, or very soon. In detail, on the 4hr timeframe, the pair had a first impulse to the downside, which is being then followed by it's own correction, in what currently seems to be a simple "abc" correction. There is still a slim chance that, on the daily timeframe, the pair could go up to break the previous daily top, as this, together with GBPCAD, is the only pound pair that has not yet broken the top. To be 100% accurate, GBPAUD has double topped.
Nonetheless, the structure tells us that this possibility, although slim in chance, still exists.
Having said that, because in any case the corrective structure of the aforementioned downward impulse is already completed as it is, from this moment on every sell opportunity that presents itself is one worth taking. Let us remind all traders that we are expecting, at some point in time, considering the bigger structure currently at play on the weekly timeframe, a big movement to the downside, on this pair.
Updates on lower timeframes will follow
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.