There is a possibility of a GBPAUD long set up here. There is no technical pattern right now, so there is no trigger to take the trade but we are approaching a very important trend line and the bottom of a support zone Time to put GBPAUD on your watch list for the week to see if a reversal patter forms or we get a big Higher High - Higher Close when we hit the ...
Pound Aussie looking like it's ready to end the down trend.
We need the daily candle to close outside of the bearish channel to consider this scenario a possibility.
Once this happens I'll be looking to buy the pullback. We could be a possible Right Shoulder of an inverted head and shoulders
Please don't copy the TP's and SL's on my trades, the markets are ever ...
This pair has been steadily climbing higher since our hard drop last week. We are nearing a bulish kumo twist that I am looking for combined with a bullish kumo breakout to enter a long position. I've laid out a TP at an area of previous resistance, but I may hold holder term as a swing if we can break that level as well. If we fail to get the kumo twist and the ...
GBPAUD is moving in the daily channel and is the approaching the daily trend-line in a corrective manner making a trend reversal pattern that is a reversal channel of 4Hr time frame, it means that price is going to be reversed from this daily trendline , so watch price action in lower time frame for buy. good luck.
Check First Comment For Clear View. ...
*Sorry, error in the chart numbers. Mistakenly put 0.xxxx instead of 1.xxxx. The below numbers are correct*
Confluences for Trade:
- Price at Horizontal Trendline Support
- Widening gap between EMAs
- Stochastic Oversold momentum
- Fundamentally, BOE has warned that UK may be headed for recession if a no-deal Brexit ...
Price oscillating in a range between two areas of significant support and resistance. Short-term support is stronger, so look for the price to fill back up towards the 233 period EMA before correcting.
Reasons for entry long:
1. We have experienced a significant Retracement to a 78.6-88.6 fib level.
2. I have identified a good level of latent orders which has started to create a bounce.
3. 50% bounce of most recent drop is feasible.
Money management rules:
A. Risk no more that 1% of account on the trade
B. all off at target
The pair has fallen sharply during the month of October & November, amid change in risk sentiment. Although price saw a nice pullback yesterday, price is now back at final support level. In addition, Theresa May is currently seeking cabinet support for the Brexit deal right now. The meeting is running two hours over its intended time. Where Theresa May is expected ...
Lets wait and price will tell us when to jump
Still bottom break are on point (even better situation for us)
Watch the full market overview on my youtube channel
GBPAUD is approaching its support at 1.8016 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1.8143 (horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 2.6% where it could make a corresponding bounce.