FX:GBPAUD   British Pound/Australian Dollar
159 6 12
This pair has often spoiled these setups.. but due to rebound in gbpusd             .. I think we will get some boost in gbpaud             too in coming sessions.
Comment: Another important thing about this pair from last couple of weeks.. Every time it makes new low.. it go for good retracement and then fall back..

So if it is going to take my stop then i will be holding and buying again from dip to either margin deals or will keep both to hit target.

The stop I shared is for fellows who dont like more drawdown..
Comment: AUDUSD Setup

AUDUSD Sell Setup
Comment: So far good.. not soiling its lows..
Comment: spoiling
Comment: I will close at 1.887 and will look to buy again on good dip.
what do you think of it now
Reply
newbie2016 ShauntheSheep
now a days it is on the mercy of usdcad as well.. as if usdcad goes for rise then aud falls.. Todays rebound in gbpusd suggest it is still in broad range of 1.40 and 1.45.. which will remain in coming sessions.. and on other hand aud has to regain more to go above 0.7645 for more bullish action.. till then aud will remain on sell side..

So keeping all that in mind.. i went long on gbpaud.. remaining market will tell :)
Reply
I agree with you on gbp and aud. gbp still above 1.4 aud blocked by 0.76.
Reply
newbie2016 ShauntheSheep
aud needs to clear 0.7645 and 0.766 clearly with 1hr or 4hr candle above it.. otherwise risk will remain to fall back towards 0.751 and below..

For now lets see what we get from fomc minutes though output of minutes was already taken on fomc day.. but we will get some moves today again..
Reply
Could be an inverse H&S, but I'd be wary... pair is in a heavy downtrend with 8 consecutive losing weeks. Nice chart.
Reply
newbie2016 lukeboland
yes it is Inverted H&S and in past gbpaud has spoiled these setups many times.. but now situation is bit strange.. we have gbpusd rebound and downside seems limited and on other hand if aud unable to clear 0.7645 and 0.766 it wil fall back towards 0.751 and below... Other main factor is usdcad which is driving aud... everytime usdcad goes for rise.. aud falls.. so now usdcad is in jumping mood.. so gbpaud at supports makes it very attractive to go long..
Reply
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