GBPAUD - Potential Long Opportunity on Daily Bullish Flag

FX:GBPAUD   British Pound / Australian Dollar
Greetings Fellow Traders,

GBPAUD             has nullified the Head and Shoulder's pattern that was previously identified after failing to confirm on the weekly candlestick last Friday. Many lines have been removed, 1 new one has been added. It now appears that the long term bullish GBPAUD             analysis might soon be ready for liftoff.

Pay close attention to the 2 lines shown on the chart, if you get caught in a sell inside the channel after a daily confirmed should strongly consider cutting your losses and moving with the trend continuation.

***Since I know that many of you follow fundamentals, I do want to add that the long awaited December FOMC Statement will be happening this Wednesday. While this news release does not impact my trade decisions, it will have the potential to create some very violent market reactions. Candle closes are far more important. ***

Looking for a Daily Close above the resistance level shown, once a break is confirmed, look for the market to retest and very likely continue a multi week bullish trend that could set brand new highs compared to the last year.

If you're looking for selling opportunities, I would look for bearish candlesticks off of the resistance level that give a strong indication that there will be a temporary sell off.

Please do your own analysis before entering a trade. If you like what you see, please "like" or follow.
What do you think of GBPUSD mate?
morshedul.sazid morshedul.sazid
morshedul.sazid morshedul.sazid
morshedul.sazid morshedul.sazid
Expecting GBP to be strong. as simple as that :)
Synapse morshedul.sazid
We've got a key technical level right around 1.53000 if we get a daily or better yet a weekly close above that, we'll have a very strong case to go significantly higher on a retest of that same level. Right now we're still trading within a consolidating structure that would more than likely break out eventually in a bullish direction. I'll wait for a confirmed break on the daily, or very strong bearish candles to stay within the consolidation.
+1 Reply
Good luck, cheers.!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out