GBPAUD appears to have double bottomed on the daily. Looking for longs once it's broken through. All feedback welcome.
Targets are clear in the chart. Good Luck!
FX:GBPAUD CYPHER: Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD Safe trades;
Wave counter shows we have a optimistic expectations, nice weekend, guys.
Read text written in the chart.
Closed at 2.04988 + 311 euro profit. -------------------------------------------------------------- Not sure - but a possible WW bullish. Disclaimer - im a noobie :)
This is a repost of a post i made last week, i just want to announce that its close to completion with RSI overbought so keep it on your radar the rest of the day and tomorrow. Its a trend continuation trade. so let´s get that reversal! Comments good or bad are very welcome Kind regards Thomas Jeff
Here we have a potential Cypher pattern going long in to major support, price still got a way to go and so has RSI before it becomes over sold, so lets keep an eye on this over today and tomorrow. Kind regards Thomas Jeff
GBP IS STRONG, APPARENTLY IN LIGHT OF RECENT POLITICAL MATTERS. I WOULD LONG THE BOTTOM OF THE WEDGE WITH CONFIRMATION AND REJECTION. DUE TO THE STRENGTH, TRADE MAY NOT TRIGGER THEN I WOULD SWITCH TO OTHER TRADES. I WOULD ONLY GO LONG AT OPTIMAL RR @ BTM OF WEDGE SETUP. LIKE, COMMENT IF YOU AGREE OR DISAGREE. MUCH APPRECIATED :) W1
Decreasing growth in the Chinese economy, means lower demand for Australia's iron ore and coal (of which prices are declining), therefore Australia is experiencing over supply issues and a surplus in output capacity. Unemployment is rising, and recent monetary policy is dovish. All these factors point to this pair being very bullish.
The GBP/AUD pair has endured a powerful bear market since 2001, however, many correlating indicators are suggesting that we may be close approaching a confirmed pivotal change in the dominant trend. Our first major indicator was the cross of the 50/200 Exponential Moving Averages which occurred in January of 2014. The last time these indicators crossed...