I do not have a setup or an entry but overall hypothesis is short.
Here is why;
- The monthly is bearish since it has formed a lower low setup.
- The monthly also broke a supportive handle at 1.89500. Using the fib, we know that overall targets are at 1.8565.
- No weekly bias
- Price on the daily and 4h timeframe is looking for a region where it will collect...
-Price previously sold off and found support at the 1.85 QP level
-On the weekly TF, price closed as an indecision candle/morning star candlestick pattern, hinting that price was ready to began a bullish push.
-On the daily TF, price formed a double bottom, then made a bullish push before reaching a resistance/supply zone.
- I am anticipating price to make another...
Share your idea in the comment section of this pair and let's debate
Good Week, Michel_FRX
DISCLAIMER:
1. Be aware this is not financial advice so trade carefully and have stop loss for sure
2. Past performance is not indicative of future results.
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.82728).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPAUD is in a downtrend, and the continuation of the downtrend is expected.
. The price is below the 21-Day WEMA, which...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.82728).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPAUD is in a downtrend, and the continuation of the downtrend is expected.
. The price is below the 21-Day WEMA, which...
Currently, GBP/AUD is trading at 1.8184. The pair is consolidating after rebounding from its resistance level. The pair may start a new down trend if it breaks the support level and neck line at 1.8174, It is possible that the pair may consolidate further for some time. If the pair starts a new down trend after breaking the support level and neck line , then its...
