Gbpaudshort
GBPAUDon the daily chart of GBPAUD, the market is indicating of strong bearish momentum and the major trend is down trend. Price is now on the monthly trend line, there might be a possible breakout at this point.
I'm still a learner of SMC and market structure, if you do have any ideas based on SMC or GBPAUD, do drop down a comment.
GBPAUD - 30MGBPAUD - 30M
Price has finally broken the 1.8400 daily support where it was showing a very strong resistence, giving us a nice break with a new LL formation leading us to a perfect TP 2 yesterday, but today it seems like it is respecting the previous bearish structure forming a new one right below it so if we zee a break of the inner structure (red zone) i would like to short it again , also this structure lines up with a descencing TL and 38% fib lets see how price reacts in the following hours
GBP/AUD 4HR SELL SET UPHi TRADERS this is my trade set up for the GBP/AUD
GBP/AUD It has broke through structure I am waiting for a pull back in to order block zone for retest of area, I am looking to take a sell only
This is my analysis only please trade with caution and risk management in place
clean crisp charts I hope it helps if you have any questions please private message me
good luck for this weeks trading
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GBPAUD: Preparing For Sells As Price ReversesPrice just reversed on the daily timeframe. Buyers were pushing GBPAUD to the upside, but now that AUDUSD is increasing in strength, GBPAUD is decreasing. These two currency pairs are whats called negative correlating currency pairs.
The pair they have in common are AUD. It's like a seesaw. AUD is in the middle. If GBPAUD increases AUDUSD will increase. If GBPAUD decreases AUDUSD will increase. There are plenty of websites to find positive and negative correlations. A quick Google search should do the job. Be sure to focus on pairs that move 70 to (-70) with and against each other.
AS far as GBPAUD, I'm on my hands until price pulls-back. We don't know how long price will decrease until the pullback happens.
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GBPAUD TO BREAK BELOW SUPPORT?Price is currently trading around 1.87800, testing the key support area on the 4-hour time frame.
Recent price action shows lower highs coming into the key area.
If price cracks below this level, I'll be looking for short opportunities to continue this trend to the downside.