IvanLabrie
Short

GBPAUD: Shorts are favored

FX:GBPAUD   British Pound/Australian Dollar
a year ago
Let's see if GBPAUD             has what it takes to fight all the bearish signals on chart, and break above the previous downtrend mode resistance.
The weekly chart offers a time at mode uptrend expiration signal, which suggests price can retest the mode at 1.94578 in 14 weeks or less.

In the daily, off the recent swing low, an uptrend signal formed, but it has already reached its target, ahead of time.
This suggests it's possible to expect a selloff from this resistance level , also emphasized by the bearish hanging man candle pattern that formed in the last close.
I'll be monitoring for a short entry using the 4h chart, good luck if you decide to take this short.
This is a purely technical setup, we should do our own due diligence with it, since fundamentals for the Aussie don't indicate strength with the potential copper             downtrend that we have detected in our group.

If you want live updates and more information, make sure to contact me via pm or skype. I provide signals for auto trading. I'm also providing access to a live trading chatroom where we give education to traders, as well as discussing the positions we're in.
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Cheers,

Ivan Labrie
Time at Mode FX
Analyst at Concord Bay dot com
a year ago
Trade active
a year ago
Comment: Smooth sailing.
a year ago
Comment:
snapshot


You can reshort.
a year ago
Trade active:
snapshot
a year ago
Comment: Both entries in.
a year ago
Trade active: New short entry fired today.
a year ago
Comment: Almost at low volume resistance.
a year ago
Trade closed manually: Posted new chart too.
a year ago
Comment: Not half bad,,,
10 months ago
Trade closed: target reached: Sadly I didn't get here myself, but my target is finally hit.
9 months ago
Comment: It's hard to say if the bottom's in.
It could retrace now, but maybe it just goes for the monthly mode near 1.81.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
Excellent one man!
+1 Reply
Looks great.. I wasn't even considering the huge 14 week mode
+1 Reply
IvanLabrie NickCoulby
a year ago
I had called the top...see the related idea.
Now I see that the largest mode is that 14 week one, and the timing was just right.
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FullTimeTrader
a year ago
Good opportunity here, i made a quick analysis on 4h chart and i would enter short right now using my convergence-divergence trading system (similar to AUDUSD). I decided to be more disciplined and not publish (and trade) correlated pairs and not to open any trades before heavy news (rate news, NFP). Long term i want to diversify my portfolio and trade only 1-2 forex pairs, others would be commodities, stocks and others. Regards.
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IvanLabrie FullTimeTrader
a year ago
Good call, I'm trying to trade few at a time, or make the positions balanced as well.
Let's see how it goes.
Cheers!
Happy Halloween!!
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How do you deal with the Weekly's Bullish engulfing which is my major concern? I've been short from 2.16 and 2.15 and its a bit of a concern given last Thur/Fri's PA.
GBPAUD: Short from 2.14365, targeting 1.90 for the longer term


There is a divergence on H4 which will see a correction to 2.1276, but price needs to hold below this level on weekly session in order for the short side sentiment to remain alive.
snapshot


And the weekly H&S... So far the right shoulder is still being formed, but the touchdown to the neckline so far has formed a double bottom, so just as much as a break below the neckline is needed, if it doesn't break, it could possibly break higher on the DB pattern too.
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IvanLabrie justatrader
a year ago
Yes, the move down to 1.9578 is still tentative. For now I'm shorting the impending retracement after this advance into resistance.
If it were to continue down below the double bottom support, then great.
My bias is on the short side for the Aussie, but the technicals might suggest an intermediate term rally there.
The cash rate data will be instrumental as a catalyst this week.
Very interesting, also, new month begins, and with it new intermediate term trends probably.
Long time, no see mate ;)
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CoreyInvesFB
a year ago
Your target is 1.95 in 14 weeks?
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IvanLabrie CoreyInvesFB
a year ago
Or sooner, as long as we're trending down.
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justatrader PRO IvanLabrie
a year ago
Missed the 14 week time frame you are looking at. Either ways, GBPAUD shorts should be giving decent +ve overnight swaps. So shouldn't be that big of an issue. Expecting a retest to 2.15 region, if the resistance is established here, we could see some headway. For now price is just hoping around. Maybe worth revisiting on Friday to see how things go
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8000034855
a year ago
hi guys, i was on board from 2.17, but losing patience looking at audusd. any opinion?
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justatrader PRO 8000034855
a year ago
BoE and Inflation report due today. Could be crucial. 2.17 is a good level, if I were you i'd hold on to it a while longer.
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IvanLabrie justatrader
a year ago
There's a potential uptrend forming but the resistance above is very strong.
If GBPUSD manages to break up from where it is, I'd flip long here.
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AlexC IvanLabrie
a year ago
UK 10 year bond yield just turn negative. Good call.
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IvanLabrie AlexC
a year ago
:)
Weekly signal triggering, you can reshort. Will be a good one I think.
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AlexC IvanLabrie
a year ago
snapshot


Possible trade pattern for next week I hope.
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IvanLabrie AlexC
a year ago
Good one, it's a good way to describe what's going on.
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AlexC IvanLabrie
a year ago
Let's hope it breaks the previous day low.
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IvanLabrie AlexC
a year ago
Just have to wait I think.
Saw my gbpcad post?
A bit late cause I had seen it earlier, but it looks ripe for weekly confirmation.
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AlexC IvanLabrie
a year ago
Yes. Thanks. GBPAUD and GBPCAD pairs seems to deviates by 0.11xx (comparing both values at their yearly high). Let's hope it stays there.
+1 Reply
IvanLabrie AlexC
a year ago
You could find a way to trade spreads too...many ways to skin a cat.
+1 Reply
AlexC IvanLabrie
a year ago
snapshot


Just for the thrill of it. Possible?
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justatrader PRO 8000034855
a year ago
I hope you held on to the shorts!!!
+1 Reply
IvanLabrie justatrader
a year ago
Not a bad call eh?

Adding here's ok, weekly advance eaten up.
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justatrader PRO IvanLabrie
a year ago
No, expecting a small push back to 2.14 and then a break below 2.12 should seal the deal finally!!! Fingers crossed.
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IvanLabrie justatrader
a year ago
If retrace, you can also add. I think it's pretty safe bet already. 1.99-1.95.
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CoreyInvesFB IvanLabrie
a year ago
What about aud minutes meeting later on today? Not expecting it to push gbpaud back up temporarily?
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IvanLabrie CoreyInvesFB
a year ago
I think it will push it down further.
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justatrader PRO CoreyInvesFB
a year ago
Take a look at this.. Divergence is not yet complete, but if you zoom into H1, its a near perfect set up. Of course, 2.12 needs to hold for the retracement to happen. Ideally, expecting a pullback to 2.14 and then a close below 2.12 tomorrow for this to work out, else the trade is still not out of the woods if targeting the 2.0/1.98 levels in the longer term.
snapshot
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IvanLabrie justatrader
a year ago
The pullback's fine, not a problem whatsoever, mostly caused by gbpusd retrace I think.
RBA might send this down.
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justatrader PRO justatrader
a year ago
Btw.. Aussie is making a pullback across the board. EURAUD/AUDUSD and AUDNZD, of course GBPAUD.
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justatrader PRO justatrader
a year ago
2.14 and (maybe) 2.15 (next week). That should do, maybe a decline thereafter. AUDNZD is also on the brink of a correction on H1/H4 charts to 1.06. Question is, what will be making the Aussie more bullish than the GBP. Happy weekend guys!!
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AlexC CoreyInvesFB
a year ago
I think Ivan is right. AUDUSD pair may take over during Australia session. They are negatively correlated to GBPAUD and the latest figures from FED sucks.
+1 Reply
IvanLabrie AlexC
a year ago
Exactly.
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KVE PRO
a year ago
Not bad at all, congrats!!
+1 Reply
IvanLabrie KVE
a year ago
Thanks, GBPAUD is a very trendy pair.
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jangseohee
a year ago
snapshot
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