Looking at the 4 hour timeframe (downtrend) , will touch the pervious support .
SHORT : below line Risk 1% RR = 1:2
We could expect some upside here now that the structure zone has been purged. I wouldnt expect a huge bullish rally but enough to make a good earning.
Inverse Cup and Handle Pattern - Price will sell to the support line and possibly continue selling
Price was consolidating in the purple structure above and price broke structure i'm waiting fr price to close under the 200 ema and also under the 50% on the Fibonacci retracement. Also price just closed and created a 3 pin formation on the 1hr timeframe. Price could retrace back to the box structure above before falling more but we will see!
Price pierced through the key structure level and instantly reversed showing that liquidity was there, I now expect price to continue further down into the target zone marked.
4H time frame: Most volume is traded at 1.78239 which means that is the point of control, if the price is under then the bears are in control and vice versa. It also acts as a resistance line. GBPAUD is looking to create a double top pattern which is a bearish pattern. 15M time frame: The point of control for this session is 1.7813. GBPAUD is in a descending...
GA could possibly go to 1.75000, right now I see a 3 pin price just finished creating 2 candles ago on the hour timeframe. I wanna see what price does at the 200 ema below but if price closes under that then I believe price will go to 1.77000 after and so fourth. Also following the parabolic sar rule price closed under the sar and never retraced under it so that...
Confluences: - ABCD pattern Formation - Rejection from 51 EMA - Psychological resistance at 1.78500 - Large market gap from previous sessions
GA looking weak AF. Maybe all G pairs? Is Brexit working out?
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.
Trend: Bearish We are in a good zone for a Sell Trade. A limit order is preferred. Stop Loss 100 pips