gremic
Long

19mar18 LONG BUT WAITING FOR A PULL BACK

FX_IDC:GBPAUD   British Pound / Australian Dollar
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Wait for the 1.85000 level to be reached and we will read the price action at that level to determine if we go long or short. OPTION 2 is price pulls all the way back to bottom orange level at 1.72200 approximately

In between those levels traders will get killed handing back profits.

Wait for the obvious levels to be reached and put together confluence for a trade when approaching the levels. 1.85000 we had the very obvious turn upwards previously. Acceleration recently to the upside. 50EMA acting as support.

The quarterly chart we made a higher low form.

Monthly resistance at 1.72000 has broken and is now support most recent swing low, bullish bias.

Weekly showing higher highs and lows, price above 200/50 EMA's..... Weekly mac looks like it may be starting to show a bearish bias. A pull back to the 1.75500 before continuing higher maybe the play here.

DAILY CHART - 50EMA acting as support nicely recently,
Strong acceleration to the upside. A possible higher high ( hasn't formed yet but price closed above the most recent daily highs).

A pull back to the 50 EMA or THE PREVIOUS RECENT SWINGS HIGHS WOULD BE A GOOD ENTRY POINT FOR A LONG TRADE. We don't want to get long now as the run is already away, wait for the pul back then enter. If we missed the run to the next level higher so be it. Preserve the capital and enter next time.

con's -- to a long entry now immediately - Bearish MACD on display, STOCH RSI over bought.
Mar 26
Comment: Approaching the described level above price. Getting what seems to be deceleration approaching the level. So now we are looking for reversal candle set up. My hutch is we continue higher and a break and retest of the level ( orange line ) would be a good value point to enter long.
Trade issues now with America affecting the AUD. Market hasn't completely priced in the negatives for respective countries yet.
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