Hey traders, here is the analysis for the GBPAUD . NOTE - Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.
Looking to sell on the back of the broken ascending TL in confluence to our 0.618 fib retracement, previous area of S&R, respectable descending TL, and MA50 which is supporting nicely the bearish momentum.
Trade will not be valid if we close ABOVE the 0.618 fib level
This past week market has shown us strong bullish momentum, bouncing off that trendline and staying in the upwards channel, holding structure. price has made 2 W patterns during the week and with price respecting this trendline throughout this week, bouncing off of it repeatedly, price looks like it could create another W pattern to continue the trend and maintain...
I have some good reasons that gbpaud is going to fall
i placed some channels such as H1 / H2 / H4 / daily / weekly
I found we are facing with a downtrend right know
price just passed lower low so we expect continue bearish
support and resistance lines Confirm this too
right know target is placed by fibonacci + next strong support
but there is...
GBPAUD has broken through a strong key level, so we can definitely put a sell order around 1.79 area, where you should come by weekly timeframe for a retest, until then whoever is brave can go long to the same price.
GBPAUD sell-off is taking the shape of Elliot Wave impulse pattern, labelled i-ii-iii-iv-v.
Price is currently in wave iv, which unfolded as a w-x-y double zigzag pattern. It also retraced 38.2% of wave iii and enclosed in a parallel channel.
If this wave count is correct, price is expected to trade below wave iii low in wave v.
What's your view on GBPAUD? Let...
Our analysis earlier in the year suggested that GBP/AUD had broken out of a ascending weekly trend channel to the downside. As is often the case we were waiting for a retest of the trend channel and confirmation that price had entered a bearish phase. That retest was completed in Late-August and since then GBP/AUD has moved further to the downside, posting an...
___Buy the pound, because it is too weak and has to deal with the monthly R3 and saturation of sales in the RSI indicator.
- Of course, a lot of news is going to be published on the calendar, its content should also be checked.
Currently, GBP/AUD is trading at 1.7848. The pair is trading in a downtrend and just entered into its support zone, It can touch the bottom of its support zone and then rebound back to start a new uptrend. The pair might form a cup and handle patterns after it rebounds back from the bottom of the support zone.
Follow proper risk management strategy to avoid...
GBPAUD decline from March high is taking the shape of Elliot Wave five-wave impulse pattern. Price seems to have completed wave (iv) correction at previous 4th wave resistance circa and made a double top.
Price is expected to continue lower if wave (iv) has already top.
Targets below wave (iii) low is probable for wave (v) of ((iii)) in black.
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