Hi guys, and happy Thursday to you all. Markets are a little slow today and we are not currently in any trades at the moment. The only pair that is setting up rather nicely out of our watchlist for this week is the GBPAUD pair. We had a breakthrough last night and we are currently waiting for a retest which will give us confirmation of price continuing in a...
Reasons to go SHORT:
- 0.5 Fibonacci
- Descending trendline
- Zone
- Corrective structure
Reasons to go LONG:
- Double bottom indicating trend reversal
A downtrend here with significant touches at the resistance level.
A recent rejection at resistance at the 1.7690 levels calls for a short position as price heads down to support (1.7450)
GBPAUD trade forecast.
After the strong push down to our selling target, we have seen the pair look to have come exhausted. Now we can see the start of a potential bullish market after a level of support has begun to form.
GBPAUD trade forecast video.
I am all about quality over quantity. Because of this, I spend a lot of time waiting for a trade that will never come or watching an opportunity pass me by. It is a common misconception within the forex industry that a trade should be executed every time you are on the chart, this is not true.
Time should be spent breaking down a...
There is an oppotunity for bullish momentum for GBPAUD.
Price is at a support zone (1.80271), where price has held at this zone on 3 previous occasions.
I believe that we could see history repeat itself self and should the support zone hold, we could see bullish movement up towards the 1.8300 regions.
Before entering a long trade, I will seek strong bullish...
GBPAUD is testing the minor downtrend resistance.
RSI is printing a bullish divergence signal.
Buy entry ⬆️ - breakout above the downtrend resistance + previous swing high.
GBPAUD looks to be retracing back to a level of support/resistance after taking out the double top to the left. This is either going to be a break in market structure or a stop hunt and until we have seen how the pair retraces we can not make an educated decision whether to buy or sell.
RVI Bearish cross and sterling looking weak into next week, could be time to short after last weeks rally of sorts as price enters supply area and good defensive bearish battleground before show the start of bearish breakdown on daily.
GBP/AUD May rise 100+pips
Insight: Price moving in an ascending channel just below resistance at 2.0355 Price is likely to continue upwards and hit resistance before reversing to support at 2.0163
Intraday - 4H
Trade: Buy
Entry
Buy or Above 2.0259
Target TP: 2.0355 & 2.0646
Pivot and Support 2.0163
Alternative scenario:
Trade: Sell
Buy or Above:...
From an early age the government have you brainwashed into a negative mindset (although they portray it as positive) They want you to do well in school, go university, buy houses with a massive mortgage and get things like cars on finance just so you get in debt and have to stay stuck in that low paid dead end job that you hate... Working to make others rich, and...
