GBP/AUD WEEKLY-DAILY 2.0500 TECHNICAL TARGET PROJECTION
As a 95% purely technical analyst, a strong belief of 'proper technicals paint a vivid picture in the FX market' is one that has been integrated over the time of extensive self studies in order to perfect and predict the next market movement..
Another strong market philosophy is the implementation of multiple confluences (mainly target confluences). By utilising the laws of Price Action, the traders thought processes can now be aligned with the markets medium-long term potential profit taking zones, however this is only a fragment of market analytical success as the data from ALL timeframes need to be crunched in order for the Risk-Reward ratio to make SENSE for the longevity of your profitability.
The technical artwork displayed on the Daily GBP/AUD is self explanatory... the FIRST factor which is very evident is the higher highs and higher lows. The weekly Fibonacci point A does indeed go quite some time back (lows of April 2013 ...with FIB B snapped onto the highs of jan 2014..
FIB C weekly Retracement was confirmed at 1.7388... and there is now a 85-90% chance that -27% FIB D Extension (orange horizontal line) 2.0500
ALTHOUGH...the bias is BULLISH and a target zone has been established, this pair can still perform pullbacks before breaking and closing above 1.9175..this could go hand in hand with my AUD/USD analysis...slight pullback on both pairs before resuming the Weekly/Daily trend.
Target confluences:
-Flag Pole extension
-Range height alignment with historical key levels
-Fibonacci D extension (weekly)
-2574 PIP up move expected from FIB weekly C Retracement (1.7388)
Use this overall analytical projection in line with your current trading knowledge and initiative...
enjoy :D
Another strong market philosophy is the implementation of multiple confluences (mainly target confluences). By utilising the laws of Price Action, the traders thought processes can now be aligned with the markets medium-long term potential profit taking zones, however this is only a fragment of market analytical success as the data from ALL timeframes need to be crunched in order for the Risk-Reward ratio to make SENSE for the longevity of your profitability.
The technical artwork displayed on the Daily GBP/AUD is self explanatory... the FIRST factor which is very evident is the higher highs and higher lows. The weekly Fibonacci point A does indeed go quite some time back (lows of April 2013 ...with FIB B snapped onto the highs of jan 2014..
FIB C weekly Retracement was confirmed at 1.7388... and there is now a 85-90% chance that -27% FIB D Extension (orange horizontal line) 2.0500
ALTHOUGH...the bias is BULLISH and a target zone has been established, this pair can still perform pullbacks before breaking and closing above 1.9175..this could go hand in hand with my AUD/USD analysis...slight pullback on both pairs before resuming the Weekly/Daily trend.
Target confluences:
-Flag Pole extension
-Range height alignment with historical key levels
-Fibonacci D extension (weekly)
-2574 PIP up move expected from FIB weekly C Retracement (1.7388)
Use this overall analytical projection in line with your current trading knowledge and initiative...
enjoy :D
