Trendhopper
Long

GBPAUD - BULLISH CYPHER BUY AT POINT D

FX:GBPAUD   British Pound/Australian Dollar
2 months ago
Price has broken the .618 retracement...next stop is the .786 retracement and completion of this bullish cypher pattern ...

I will BUY AT 1.69553...should form the right shoulder of inverted head and shoulder pattern..... right shoulder lower than left...still bearish long term...

TP 1.1713
TP 2 1.726
2 months ago
Trade active: I just bought GBPAUD on double bottom formation...TP 1.78

If this fails then the Cypher should work
2 months ago
Comment:
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I will add to my long position if price makes it to the arrow 0.618 retracement 171.070
2 months ago
Comment:
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Ive just added at this level
2 months ago
Comment: Its known as a 2618 trade
2 months ago
Comment:
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Price retraced to a level which is much lower than ideal, we wanted the 0.618 to hold and it went to .8

I will now watch very closely, if this support trendline gets broken I will exit the trade with minimum loss, as it will confirm to me this is a bear flag not a price reeversal..if we can break above the previous high its a reversal....
2 months ago
Comment:
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I have closed one of my long positions at small profit to reduce my risk.

If price breaks support...I will buy at point D of the bullish butterfly...
2 months ago
Trade closed manually: made a small loss..closed trade on break of support trendilne...this is to much work for a reversal...I will monitor and buy again at cypher completion...
2 months ago
Comment: opened another long...as on 5 min chart...trendline in tact.......small monetary risk on this as its a high risk trade
2 months ago
Trade closed manually: I can't see a reversal today...small losses...win big
2 months ago
Comment:
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Analysis of why this bat pattern failed to reverse price.......its all in the structure ...all the down move of the pattern was near the bottom..potential reversal point,....trendline and channel then crushed the attempted bounce...
2 months ago
Comment: Analysis of one that worked

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2 months ago
Comment:
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Coming into land on the Cypher at 1.69550.....this is where I will buy...high probabiliy of a good bounce

TP 172.643.....this could be point B on a potential butterfly....which doesnt look good for GBP long term....
2 months ago
Trade active: I was travelling yesterday but luckily caught the entry at 1.69500 as I was leaving......in good profit...Im watching GBPJPY as its running in sync with this and has a more obvious TP as its in a descending triangle channel...im will likely short GBPJPY when its tests the top of the channel...at the same time GBPAUD should be at TP of 1.726....resistance and Iwill close this long and go short...overall GBP still bearish medium term..
2 months ago
Trade closed manually: Taken profit...

Reasons for closing trade.

.618 retracement failed...

although a bounce at .786 ,no guarantee price will bottom @ 786....if it does bottom here , likely to be rejected at trendline....

future trades...

Sell on break of 1.695....sell at trendline ...buy at breakout of trendline

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2 months ago
Comment: Its broken up and I see a bat pattern completed on trendline..so I may just buy at support , point C as we have a support trendline

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2 months ago
Comment:
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Price is stuck in channel...unless it closes the day above 1.695...the .786 fib has failed and next buy point is the 100% tetracement at 1.67180....of course I will try and get in on a short if the opportunity arises with a pullback to top of the channel...
2 months ago
Comment: both recent short opportunities have come in the middle of the night !!!
2 months ago
Comment:
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Im long from 169.500 on a pullback....

looks like a head and we will finally break the trendline...buy on retest of trendline...my TP 1.72600
2 months ago
Comment:
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Im seeing an ABCD impulse upto 170600 resistance and completion of a bearish butterfly..then price should test support trendline...(previously resistance)
epalazzo
2 months ago
Why are trading during news? Market fluctuates crazy, there is no clear direction.
Reply
Trendhopper PRO epalazzo
2 months ago
GBPAU\D is less affected by FOMC.....
Reply
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