FX:GBPAUD   British Pound/Australian Dollar
832 10 13
Hello traders, have a potential short setup on this pair with trend line as well as a structure at the entry. Also we have bearish divergence on this pair. Dont really have a target for this pair. Would like to hold it for the remainder of the week. Cheers
Comment:
snapshot

Might also have a potential ab=cd
I have a very similar analysis and outlook on this pair. Thanks for sharing! It's good when people have the same perspective.
Reply
Hi... Long term I m bearish on this pair as per my idea that I have posted here
GbpAud - Trend Changing ?
but however in current week, I m looking to have short on EurAud, since its better than GbpAud due to Euro weakness.
WEEKLY ANALYSIS (26-30 / OCT 2015) - EurAud
Thanks for posting your idea & congratulations for being selected as idea of the day. Keep the pips. =)
+1 Reply
AkashGaur FxSaint
Thanks a lot and also amazing analysis on the charts you posted. May the pips be with you lol
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snapshot


here is what I am talking about, 1h chart.
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Sorry i don't really trade this often so cant really comment on the frequency of the false breakouts as you mentioned earlier. However, i try not to depend on just indicators. as a matter of fact i like to keep my charts as clean as i can, so there were various other reasons then just the bearish divergence on this chart. Also like i said i don't depend or use indicators so its hard to interpret what you are saying on the chart that you posted.
Regards
+1 Reply
Sure, that would be so nice....! Bearish divergence on stochastic are not very reliable and this pair is notorious for giving false signals. I would fully pay attention to the horizontal resistance line, even more than the divergence. Stil, I want to see it down since I have some shorts here.
Reply
GBP will rally together with USD at least up to december, because of now more hawkish fed (my fav: long GBPNZD or short NZDUSD). NZD had a ridiculous run last few weeks.
(nothing against your technical analysis, just sharing my fundamental view, no offense)
All the best
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Congratulations! Your chart has been selected to be the highlighted post of the day. This is a great example of indicator divergence from price action.
+1 Reply
AkashGaur walker.england
Thankyou! Appreciate it :)
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how do you look at the potential bearish h&s formation. currently at the shoulder?
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