FX:GBPAUD   British Pound / Australian Dollar
Hi everyone,

Unfortunately I was banned for over a week due to some people not liking my honesty with my posts about scammers and me trying to help so from now I have to be a good boy and just watch what I say... ha. Imagine that.

So, straight in to it. GBPAUD . This is on the 1hr but the idea is based more on the 4hr. Now, the £ has seen some serious rallying over the course of this week but i think now we are getting a bit more normality back into the pair so we shoudl see the technical analysis sticking. On the 4hr I've added a fib from the Swing high to the swing low, This you can see rejected the 61.80% beautifully and we saw the turn in the trade. I managed to be looking around the time of rejection and got in quite high as you can see.

We did also have however a nice 1hr bullish trend line which you can see has broken and price has come to test this slightly over the last hour which again has rejected and we can see the pair returning down. This COULD be a nice opportunity to get into a sell from here as we have the confirmation of the retest. If you would prefer further confirmation you could wait for the hourly candle to close under the 50% also.

Happy trading guys!



Comments

welcome back, just remember to behave yourself 😂
+1 Reply
ApexFX_ AndrewFrazier
@AndrewFrazier, I'll try my best! ;)
Reply
Nice
+1 Reply
was thinking you'd give your trendlines room.. probably might want to use double trendlines to cater for the noise swings price makes.
Reply
ApexFX_ dagger810
@dagger810, Why would you need double trendlines? there is no use for them.
Reply
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