Looking to take advantage of the weakness in Aussie dollar overnight which took GBP AUD higher providing a great entry point for shorting British Pound against Aussie dollar. Our chart on trading view highlights the levels of overbought status on both RSI and Stochastics which have previously led to a move lower and the chart work also highlights...
GA is approaching some key levels really fast with the big bullish run last week this level is 1.88414 and this has not been reached since June 2016 nearly 3 years ago, current price is only 60 pips off this level.
Now there are correlating pairs that we look out for when trading and most of you might not even know that when these pairings move in 1 direction...
See how keeping thing simple and your charts clean can lead to spotting more setups and save you time? Half the information on the internet is purposely put up to confuse people so they loose money in the markets, if you look on the internet people will tell you that you need to use loads of different indicators to succeed in the markets, this is BULL#HIT!!! Price...
We are looking for price to make a lovely bearish run down to our support zone ( green box ) After price hitting 4H resistance today we had a spike through this level and then 2 bearish candles following, this indicates that bears couldn't push through resistance so it is on its way down now.
You could get 60+ pips from this trade, then you can use 2 of them pips...
I am off out tonight to celebrate an amazing week trading and yes i am going to have 1 or 2 beers after all you have to let your hair down sometimes ( although this is hard for me as i have no hair ) haha.
Area of interest is highlighted, we are favoring bullish movement from this area, fundamental news today has pushed price down but technical analysis will push...
This is a pre-data trade for GBPAUD.
GBP is being bid up prior to the release of UK core CPI data today. It appears buyers are assuming good news which we all know, is highly unlikely considering the state of Brexit and the economy.
The classic "BUY the rumour, SELL the news"
Targeting new lower lows on the 1hr/4hr timeframe as the trend continues.
Classic, simple trendline break trade.
It is good to wait for a lower low to be made for the trend reversal to be confirmed. Then I like to enter on the next lower high for a better R:R entry.
Use the 1hr 50ema and daily pivot as dynamic resistance once both are broken and the retested from below.
Looking at the setup on British Pound versus Aussie dollar which we played from long side last week and are now looking to play from the short side with British Pound running out of upward momentum back at the resistance area highlighted in our trading view chart and looking likely to head lower again.
The price action also shows up on the...
I'm eyeing up GA for a long as it is currently in a Demand Zone. I'll only look to go long if I see a break of the 4HR Ascending CTL (Counter-Trend Line)
Targets could be around 1.86800, but I'll look to secure some profits as we head towards the target...if this trade does play out.