Looking for a long once price returns to the golden box. Although the market structure in the weekly and daily time-frames shows us a loss of momentum for the bulls in recent weeks the overall bias on this pair is still bullish when taking fundamentals in to account which suggest further growth for the pound as markets continue to react positively to movements...
As per Cypher rules, Leg BC should reach at least 127.2% = 1.7550 but the candle should not close below point C. So the area between 1.7550 and point C could be treated as zone from where we could head higher to Leg D, which is a potential reversal zone. The RSI is oversold as well.
The 4/20 low for the pair marked the beginning of an impressive rally which has no signs of waning. Smashing through resistance areas is the mark of this pair, but more severe resistance is approaching. The 2/16-2/19 swing that marked the start of the selloff before the bottom is getting closer. If price resistance in the 2.0175 area (assuming price goes there)...
Ita been a while since I put out my last Idea but here is a very nice setup on GBP/AUD. A Nice pinching HPF pattern with a very nice R/R, about 8/1 depending on how aggressive or conservative you are on your Stop Loss.
Stop Loss needs to be at least below L2.
The TopFinder have now reached its burnout-point (100% of cumulative volume or "fuel" used up) and a T.D Price Flip have been generated (TD-Combo 13 Countdown). Price is now expected to pull back to the MIDAS Support Curve (S1) for further gains to the upside as the order-flow of GBP is positive and AUD is negative .
The MIDAS TopFinder is not programmed into...
Earlier during AUD Employment Change + Chinese data Price formed a double top pattern, now, currently according to the elliot waves, i think price is formed a pattern known as flat pattern, which means price can rise again for the 5th wave completion Targeting the 2.0900 level again :)...
Buy @ 2.0600
SL @ 2.0400
TP @ 2.0900
Huge low test to Finnish the week last week at 1.9.
also rejecting the upward trendline from the swing lows dating back from sep 2014.
Will be monitoring and managing this trade from the daily and looking at 2.0 as initial target.
Price currently on 61% in confluence with the 3rd trendline test on the weekly/daily
Bullish Engulfing on the 4HR
Inverse head and shoulder with ABCD in play
Targeting 3 length breakouts measured by the head to neckline of the crown patern
Target 1 fib D extension, -1.27% .... Target 2 -1.618% Target 3 supply zone / 3rd range break to the upside
As a 95% purely technical analyst, a strong belief of 'proper technicals paint a vivid picture in the FX market' is one that has been integrated over the time of extensive self studies in order to perfect and predict the next market movement..
Another strong market philosophy is the implementation of multiple confluences (mainly target confluences). By utilising...
GBP/AUD 4H Trend continuation setup (short)
We can see price making lower low (new structure low) and that signals contiunation of the trend.
Major daily structure is way lower and that tells us that price will drop down lower to that structure and retest it.
PRZ is quiet large and i would take it at the top of it because of risk:rward ratio. If price will not...
I believe we will see a break of resistance at the 1.8239 area with a target of 1.83486. This is backed up by the fact that the channel we are currently in is bullish and has been for some time, the entry was determined by confluence of the 618 fib retracement level and the long standing support/resistance we have at 1.81784 which was recently rejected 3 times....
