We look to buy on retrace after rejections and double bottom
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From the mid of December, GbpAud is trading in a rising wedge pattern. Yesterday the pair has closed the session under the rising support line, confirming the change of medium-term trend and a potential 700 pips target. First important support comes into place at 1.92 zone.
Broke our trendline, now we look to sell on the retrace
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the price can break either side but wait for successful breakout. Great profit expected from this trade
quick day trade, im already in this trade from market opening but if it does come back to the zone of interest, then look for rejection around the purple box region to take a short, down the the support zone given. 200 PIP GAIN 9/1 RR
GA LONG - this is a long term prediction. A big trade which you should only use a small slot size for and sit in this for at least 6 months maybe longer, look for rejection of the ascending trend line plus fib levels. 1200 PIP GAIN 6/1 RR
I expect some small correction after the breakout. I am targeting the green box as reasonable buying zone. Happy trading pips!
GBPAUD has developed a nice rising wedge and will probably finish it with a spike above the wedge and then fall back.
GBPAUD spiked up after RBA minutes. However,the current candelstick formation indicates that it could drop soon. I have sold GBPAUD at 1.9417 and targeting 1.9340 as my initial TP. If 1.9340 breaks, 1.9200 could be on the way
Trading CFDs on margin carries high risk. Please ensure you fully understand the risks.
GA looking like a nice sell setup, if you're not in this already look for retest of the purple box area, and rejection on the 15 min time frame. Looking like a nice opportunity to sell around this area due to the fact it is rejecting the fib levels we look out for as well descending trend line and rejection of the EMA. Take partial profits at the given levels....