Hello Traders , Welcome to this analysis, we are looking at the GBPAUD , the 1-hour timeframe.
My trading strategy is based on the simplicity .
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Price is maintaining bearish order flow, making LLs and LHs. Price is potentially forming a LH in the HTF Supply Zone. I am monitoring price at this POI, looking for signs of price transitioning from bullish to bearish momentum. I'll be watching on the LTFs for this shift.
Then our team will look for one of our valid short entries, as we believe price will...
According to our analysis of GBPAUD in here we are in near to 2nd target and if it can break this target and fall down , the 3rd target is near to us
Being with us , and we will update the chart near the target
Previous analysis :...
1) Bounced from the upward trendline
2) Support zone at 1.86056
3) Bullish engulfing
1) Descending trendline
2) Resistance at 1.87723
Plan A: One can buy from here for the target of 1.88459
Plan B: On the breaking of upward trendline one can sell for the target of 1.85340 where the major support lies.
1) Support zone at 1.84164
1) LH LL
2) Resistance zone at 1.85595
3) Downward trend
Plan A: One can take ling position on the bounce from the support zone at 1.84164.
Plan B: One can take short position if pair fail to break the resistance zone or upward descending trendline.
Looking at GBPAUD from the higher timeframe perspective (W1) I noticed that the price is on a dynamic support and resistance which is also stacked with the trendline. From that point of confluence, I'll expect a bullish rally. To catch this move I'll be switching to the lower TF to look for long entry!
What is your trading plan for GBPAUD? Comment below.
We found GBPAUD form a PFL in H4 TF. If the price respect 1.8418 level and form bullish price action, it may trigger long for targeting zone 1.8600 level.
Alternatively, if it void PFL level, it could more decline.
Price has rejected a weekly support level so this indicates to me we are looking at a retest
I will be waiting for price to break my highlighted area and look for a retest of that before going long to the highlighted level of resistance
Hello and welcome traders to another trade idea with Fobian
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👉 WE are waiting for conformation:
- We have big push on downside.
- EMA's give us SELL signal.
- Fib level is reach and reject our 50.00% level.