Get started
Inacio_1998

GBPAUD Overview week commencing on the 13th Dec. 2021

Short
British Pound / Australian Dollar (FX:GBPAUD)  
Inacio_1998  
FX:GBPAUD   British Pound / Australian Dollar
Trend Analysis Wave Analysis Beyond Technical Analysis GBPAUD gbpaudshort gbpaudlong gbpaudanalysis marketsructure downtrend short shortsetup
0
0
trendanalysis waveanalysis beyondta gbpaud gbpaudshort gbpaudlong gbpaudanalysis marketsructure downtrend short shortsetup
Weekly chart - closed strong bearish engulfing 2 weekly candles. Could still some bearish for this week.
snapshot
Daily Chart - broke minor level of support came back around the area of previous resistance and rejected (could we come lower or potentially start raging?)
Previous Daily candle - doji showing some indecision around the "minor" support which can now potentially become support.
snapshot
H4 Chart - Previous level of support broken and being retested a potential resistance now, in line with 38.2% Fib level.
snapshot
30m Chart - ABC corrective (just reach TP level and new level of resistance established), 2 approaches can be taken:
Aggressive approach: if a double top scenario happens then short at the double top!
Conservative approach: wait for bearish confirmation on 30m Chart break of support level (then retest as resistance) before shorting
snapshot
Follow up as the week goes on....
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.