AUDGBP rebound in H4 channel and try to go upp towards 0.579
Hello Traders It is time to watch for the right entry... Strategy 1 Entry 1.7135 TP: 1.7370 SL: 1.6990 Strategy 2 Entry 1.7020 TP: 1.7620 SL: 1.6700 Tell the true Normally I dont setup SL.... Because My trading Level is 1:10... I trade with hobby, knowledge, experience, project and investment... not for living cost... Living cost is kill your dream and kill your...
On May 9, MacroView issued a short idea on AUDUSD and highlighted the strong correlations with copper and gold, which we would see the trifecta fall 2.93 percent, 4.90 percent and 6.68 percent respectively. We've seen all three etch out bottoms in early June, yet copper is retesting those lows on unexpected increases in inventories. The AUDUSD went big following...
The area in the red circle represents past structure, support level which could possibly become resistance with 0.3 Fib retracement and Over-bought market. Good entry point for short. If breaks, all signs available for expectations of a new upward trend.
Pound had a huge run up. Looking to take a power move short 1:1 Momentum slowing - 4 hour showing double top head and shoulders with MACD looking to be going lower, crossing over the 0 line. Fib retracement from the last big move up. TP is just above the 0.618 FIB level. Will monitor, may TP at .5 if no strong momentum to push through. SL above key 1.95...
A potential buy position from the emerging cypher completion at D (0.5123) area with two profit targets. Potential 92 PIPS in the apple!
A bearish channel has formed on the AUDGBP. The daily time frame shows a bearish movement since this summer so potentially this could continue beyond the target point here. Clearly there are some important announcements tomorrow (5Nov15) for the UK which could affect this pattern.
Recently posted an idea about going short on this pair and going short if it broke and closed below resistance. However on the 4hr chart it looks like the price tried to go below resistance but couldn't hold. This is a classic crack n snap for me. It is confirmed with the long hammer candle. I would expect this pair to get to at leat 0.5160. Set stops around 0.5076
It is starting to look as if the bears are starting to take control in this pair. We have a shooting star 2 days prior followed by a rather large bearish candle. Im reluctant to call this a bearish engulfing pattern there isn't really a well defined prior trend. The most important thing to notice on this trade is that we are coming up to a minor resistance level....
The analysis above is just my overall bias on the pair. Price has reached the bottom of the channel (also the completion of a harmonic wave) and is beginning print higher lows (indicating a possible uptrend). However, price is still struggling to break resistance (shaded grey area). I will be monitoring this pair for a LONG entry once resistance is broken. Entry...
After gaining 100 pips in the last two days, I expect there'll be some form of pullback. There are two supply zones that are now acting as intermediate demand as price rallied away from these areas. The move away from ~0.50800 isn't particularly strong as it runs into a supply zone about 10 pips above. The ~0.50600 zone is more reliable (in my opinion) based on...
AUDGBP turned around dramatically at 0.50000 as there was obviously demand in that area. The question is, how strong is this zone? Is it strong enough to take another bout of supply? Will it rally again? The recent down trend has wiped out all intermediate demand and formed new supply areas to watch out for on the way up. If this works out, reward is anywhere...
AUDGBP reacted nice off this big picture demand area, gapping into it in the process. This formed an intermediate demand zone within the bigger zone. A return to this price should see a rallying reaction. Profit margin is dependent on supply zones that form on the return to ~0.50300 but a sharp drop should see a 5:1 R/R.
AUDGBP has found some support (demand) at the psychological level of 0.50000. It seems that the demand zone is in control, driving prices higher and invalidating previous resistance (supply). As prices fall back to intermediate demand zones, long trades can be initiated for intra-day traders while position traders may add to positions or adjust positions. AUDGBP...