Currency Pair GBPAUD
Time Frame Weekly, Daily, 4hr
Predicted Direction Long
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
Updates will be available in the Comment Section Below
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 ...
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.
- Llegando a parte baja de cuña bajista formada en D
- Conteo de Ondas ELliot dentro de canal (falta correccion ABC) en H4
- Puede terminar corrección y continuar siguiente impulso en H4 ya sea en continuación de tendencia Bajista rompiendo cuña
o puede iniciar siguiente impuso alcista para buscar parte alta de figura de cuña
- Esperar hacia donde indica el precio
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 ...
GBPAUD has retraced to Fibonacci retracement
level of 0.618 and seems like could extend to 0.5 fib retracement.
this would create an ABCDE.
Overall i am still expecting this to fall lower but this
could be a nice retracement to capture some profit also
See previous analysis
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this pair is one of my favorites, it seems to always nearly everytime conform to the wave theories. hopefully you make sense of the above. i just thought i would share
and if you have other possibilities, let me know
GBP/AUD has currently a strong bearish momentum and by the looks of the 4H chart, it is without support (Weak and can fall more).
To catch this potential move, put your SL above the 4H 50 EMA.
Tip: Always keep in mind that what matters in trading is to be profitable on the long term and not the result of one trade alone.