Apex_Gregg
Short

GBP AUD what did the TITANIC do? GA will show us....

FX:GBPAUD   British Pound / Australian Dollar
1.84344 area of STRONG resistance... how can people not trust such a strong level? must be drinking too much fluoride.

Anyway... we have marked on our chart with purple arrows where price has hit this resistance level and then bounced, historically once price has hit this level there have been aggressive sells ( price drops considerably ) This tells me that the big players have set orders at this level, so why don't we jump on and enjoy the money making ride :p

Price did break in October then came down to retest resistance as support, price then broke through our level and sank quicker than the Titanic.

Recently ( Friday ) price finally made it back up to this level and again failed to break out and close above, we had a fake out where price went above 1.84344 but the bears soon pushed it below just in time for market close.

Due to hoe strong this resistance level is and the long upper shadow on the previous daily candle we can only see further movement to the downside.

Comments

What about those GBPUSD bulls? GS said they're bullish for the whole year on the £, and Isn't AUDUSD at resistance? Didn't the RBA say they're thinking of cutting rates? Just adding some counterbalance maguy, but I like the look of that rejection tho lol
+1 Reply
Apex_Gregg LouisSugunaFX
@LouisSugunaFX, Correct, and you bring up some good points, but the 4h resistance looks too good to ignore for us, plus the upper shadow on the last candle tells us that bulls are exhausted and bears are taking over.
+1 Reply
LouisSugunaFX Apex_Gregg
@Apex_Gregg, free fall ahead, gj bro
Reply
Apex_Gregg LouisSugunaFX
@LouisSugunaFX, sure is mate, we mentioned this in 1 of our more recent posts 👌
Hope you are using our analysis and benefiting form it 😀
Reply
Apex_Gregg LouisSugunaFX
@LouisSugunaFX, did you manage to get on this trade and profit from it? TP smashes 💪👌
Reply
Yap definitely strong level and daily rejection
+1 Reply
Apex_Gregg wilsongalucho
@wilsongalucho, Are you already in this trade, or will you be jumping in at market open?
Reply
wilsongalucho Apex_Gregg
@Apex_Gregg, I'm not in this trade, as per my strategy I missed the entry. There's no rejection yet on the weekly so this needs to be taken as a pullback trade primarily and not a full reversal in my opinion. What do you think?
Reply
Apex_Gregg wilsongalucho
@wilsongalucho, Sorry I have only just seen your comment, we were short on this trade and it well and truly sank and reached our TP 👌
Reply
Wow
+1 Reply
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