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khng_444

Week 32: GBPAUD - Slightly Bullish (KIV)

Long
British Pound / Australian Dollar (FX:GBPAUD)  
khng_444 Updated   
FX:GBPAUD   British Pound / Australian Dollar
Support and Resistance Candlestick Analysis Volume
3
2
supportandresistance candlestick volumestudies
Nice analysis last week but I missed the trade. Price is now returning to a strong support where it is a congested zone with overlapping of 2 trench and 2 high volume candles supporting. As usual, I am bullish as long as 1.6256 is not broken. I will long only on a bullish signal at 1.6378 or 1.6256 (just a possible scenario: price temporarily hits below 1.6378 but returns with a bullish pin bar).

Note: Trend is still a down trend, careful with any longs.
Comment:
Price is consolidating. I think a break out is coming soon.
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