Blue line is old resistance turned new support, where price used this level as resistance we have marked with purple arrows and where this level was used as support, we have marked with orange arrows where this level was used as resistance.
Price is currently at this level and we can only see upside movement on the 4h chart as the candlestick that formed and...
1.81017 is a lovely buy area where we will be placing some orders, We have 2 trend lines that are meeting and price is nearly at the point where they meet, This means price is getting squeezed and we can see a breakout of our trendline to the upside and make a run upto our 1.85285 zone which is a key resistance level so we could see price turn in this zone.
A surprise in Australis housing permits of -8.4% as oppose to the forecasted +1.8% has left the AUD relatively weak. A break and close above 1.8104 for GBPAUD would warrant a buy, assuming no negative news added to the Brexit situation. Will update with targets and stop loss accordingly.
After an explosive move down, GBPAUD left a big liquidity void and we all know how much GBP loves to fill liquidity voids, lower time frame is showing bullish price action and making a breaker on the 15 mins after taking out previous swing low on the daily.
R/R setup is great for a long, has a massive upside if trade goes in our direction
GBPAUD seems to be bouncing off a weekly trendline and a support level which could potentially send this pair up towards the upper targets.
Positive data from the UK report today (16/08/17) has potential to close in more buyers causing GBP to go up, however we must watch the AUD news release tonight at 02:30am London time (17/08/17)
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this is one of the simplest setup that i trade. You can see price's created a new structure low, and now it is back to retest previous resistance that once broken could become support. After multiple red candles it's now formed a green candle right at that important level.
We can try a lonog, with stops just below the low, target1 at .618 of the previoous...
few days ago we managed to get more than a hundred pips from shorting this pair (see attachment). Now the situation has changed, since we came back to previous structure and started consolidating right at the trendline retest. Besides, the zone we're on is a daily structure that could push price up, according to the major trend.
The RSI divergence down on...
here you can see a bat formation near to the completion D point. However, my analysis started from higher timeframe, where i've indentified the strong daily support sitting at 1,60 even handle number. The harmonic formation ends up right there and therefore i think it could be a nice opportunity to go long.
Stops below X, targets at the .382 and .618...
Carleton Capital are LONG this morning from 1.6022.
Our GBP algorithm has identified a possible LONG from support at 1.6007 and we have entered the market on confirmation of the signal.
STOP is 1.5995 for a 27 pip risk trade.
Initial target is 1.6100 (200sma on M1) and then we will evaluate the price action.