Hello traders!
Let me tell you why GBP/AUD, in my opinion, shifted to bearish.
D1:
- price breakout the previous low of the uptrend
- price reacts from a supply that has an imbalance and changes the character of the movement (from bullish to bearish)
- price reacts above fibo 50
- the last 2 candles are bearish and break the low of the 3rd candle (bearish sign)
H4-H2:
- the internal trend is bearish and is at the beginning
- the price reacts to an important supply
At this moment the price is in demand and I'm looking for a little retracement and a bearish structure in the next H2-H4 supply.
Based on these signs that the price gives me, I will look to sell on GBP/AUD.
Good luck and risk wisely!
Let me tell you why GBP/AUD, in my opinion, shifted to bearish.
D1:
- price breakout the previous low of the uptrend
- price reacts from a supply that has an imbalance and changes the character of the movement (from bullish to bearish)
- price reacts above fibo 50
- the last 2 candles are bearish and break the low of the 3rd candle (bearish sign)
H4-H2:
- the internal trend is bearish and is at the beginning
- the price reacts to an important supply
At this moment the price is in demand and I'm looking for a little retracement and a bearish structure in the next H2-H4 supply.
Based on these signs that the price gives me, I will look to sell on GBP/AUD.
Good luck and risk wisely!
Comment:
Gbp/Aud switch to bullish!
Next time!
Next time!
Now I wait for a bearish structure on low timeframe before I enter.