MartinaAndreaProvenzano
Short

GBPAUD >> Triple Max // Looking for a Short Entry (Ichimoku)

FX:GBPAUD   British Pound / Australian Dollar
Goodmornng traders,

This morning I found very interesting this pair.

Let's start from a weekly chart, where I found a triple max ( >> where the arrows are), and a triple refuse from prices to break that level up.
So, today I'd like to look for a short entry, maybe up to the weekly Kijun (>> which could be our very first obstacle on this timeframe).

Let's go on with the daily chart .

snapshot


This timeframe is very interesting, even without Ichimoku .

1 >> We can see the higher resistance, which was broken on the daily chart , so that could have created bullish expectations, but then prices start to come down. This is due to the fact that the resistance was given from a weekly chart, so that level couldn't be considered as broken since the weekly chart didn't decide so.

2 >> Now prices stopped on a support created from price action ( >> See arrows), resistance before, now support.

On this timeframe we are on an uptrend (>> still), while the phase is bearish ( >> You can see it by all those red candles).

Can you see it?

snapshot


This is the trend.

snapshot


This is the phase.

snapshot


We can understand it's not a phase anymore, when it goes to break the previous lows.

Now let's use Ichimoku .

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Cool, it confirms what I was saying, and it proves it by the Kijun Breakout ( >> Which means prices are loosing their bullish power, and maybe they can start a bearish trend ).

Let's see a H4 chart.

snapshot


Here we can see ore details about the move.

1 >> Higher highs, with the last correction ( >> Outside return) which doesn't mind and breaks everything out.

2 >> Ichimoku is broken out by prices.

3 >> Prices calm down, and slow on the support given by the Daily price action,

snapshot


and we have a reminder about is, given by the SSB             .

Let's look for an entry on the 15 min chart.

snapshot


Here we can see how prices have slowed down, not having a real trend in this moment. Ichimoku also says the same, with flat Kumos.

What I want now it a breakout of this flat movement, with a retest - if possibile - of this one, so I might say we have to wait a bit :-)

>> Leave a Like if you agree.
>> Tell me what you thing in the comment below.
Comment: It's critical on the 15 min chart, with a double top which is forming. Maybe could be a nice entry point to use a good risk - reward ratio. What do you think?

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Trade active: I got into the trade ( >> Short), because I saw in the double top an opportunity to be rejected by that level.
The stop is tiny, and the target enormous ( >> Weekly Kijun). Of course I know it's far far away, so basically the trade is the same as my usual ones >> I go on until the 15 min chart shows me an inversion, or gives me any signals which are not good for the short to go on.
That was a very aggressive entry, but it's my way of training ( >> also I know how to tread my money management).
Let me know what you think about it :-)

snapshot
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>> http://bit.ly/LevaFinanziaria

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come sempre analisi perfetta
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@giacomo789065, Peccato lo stop :-(
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giacomo789065 MartinaAndreaProvenzano
@MartinaAndreaProveno mi dispiace
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