A great example of 'less noise' on your charts, trade is still open from 1400 pips ago.
Shown in strategy tester - this is going to be a big one when it closes.
Far less trades with the ADX filter added into our strategy.
Predicting to go long as a possible Wyckoff patterns is forming off the back of breaking a bearish trend. I think a lot of indicators are pointing towards it becoming a bullish trend. The future timings of the spring and test are only eye balled so this may take longer to form.
I hoping this pair will respect this descending trendline after breaking it. I will be waiting for rejections then a candlestick confirmation on the lower time frames to get involved in a buy.
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Always got to be wary going LONG on the GBP in the current economic climate but from a technical standpoint GBP/AUD looks a reasonable LONG trade from these levels now supported by 2 key trend lines.
The channel shown that GBPAUD has been trading in for the last 2 weeks has finally been breached and price could now be supported by the top the channel and the...
The blue line on this GBPAUD chart at 1.8050 marks the edge of the abyss. This area has been tested 3 times previously this June but is a historical area of support and resistance. Where we go from here the markets will decide but a break south could see a large move down for GBPAUD with little support below for the next 500 pips. There's little joy for GBP BULLS...
GBPAUD is currently in an interesting position after support has held at the lower section of a long term bullish channel (4 years). Fresh bullish volume can be seen increasing on the Daily and 4HR, coupled with the Daily MacD in the heavily oversold region. Additionally, The Daily ADX has began to pinch after separation apparent. In regards to a price action...