649bruno
Short

GBPAUD: Bearish Outlook, Selling Should Gain Momentum

FX:GBPAUD   British Pound/Australian Dollar
68 0 6
Negatives:
1. Last valid sell Sell Fractal was August 16th.
2. Your compass for direction, the alligator, is feeding in a down trend.
3. CHOP is almost BELOW the shaded area. This predicts a trend.
4. CHOP ZONE is red, indicating a downward bias.
5. Prices are trading below the Ichimoku Cloud . This is a sell signal.
6. Prices are below the red Ichimoku Cloud conversion line. This is a sell signal.
7. Prices are below the Ichimoku Cloud baseline. This is a sell signal.
8. The-DMI (top) has a bearish cross. This is a sell signal.
9. The phase energy (top lower) is steadily falling, and it is below the zero line. NOW HAS A DOWN-WARD BREAK. This is a sell signal.
10. Ichimoku Cloud has red border.
11. Trend-line is heading lower.
Positives:
1. NONE TO REPORT.


For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”. Currently the forward projection is VERY WEAK.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR-GBPAUD IN THE TOP MIDDLE INDICATOR.
AS YOU CAN SEE, THE FORWARD PROJECTION IS HEADING DOWN TOWARDS THE ZERO LINE.
Note: DMI-top and phase energy (bottom) already have negative crosses. These usually lead the forward projection because they are faster indicators.
A four hour chart looks even more NEGATIVE.
So, I feel-GBPAUD will be heading LOWER.

Good luck to you in all your trades. Don.
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