Apologies for the poor graph... I'm still getting to grips with the platform. Looks like the gree flag has been given at 10am London Time.
May have slight pullback on 4hourly.. However, highly doubt it.
We have a possible bullish Bat on this pair.
Taking into consideration a much larger pattern on the daily which is the opposite momentum to this pattern.
However with the pattern completing at support and structure clearly strong historically I will be entering @ 1.71270
Stops @ 1.69948
And targeting 1.73197
Wishing you all a great week in the market....
Expecting a small retracement on open before continuing onto the current downtrend.
Also mindful of a a gap on the market open, will dictate possible entry, but my bias for this pair is short, targeting support level 1.67000 in extension. First target 1.70812
Daily Support Rejection
61.8% Fib Rejection.
3rd Bounce of Daily Trendline.
Potential New Highs.
If price holds Daily Support and 61.8% Fib retracement we could see further bullish movement up to the 1.76500 area. A break past this level we could be looking for targets of the 1.78000 area.
Currently awaiting a break and close above the...
GBPAUD has been in a downtrend since 10/16 however failed to make a lower low on the monthly support which then formed a 'Double Top'. I am waiting for price to break through my counter-trendline to enter a long-term long position. I believe price could reach to my daily resistance due to previous price action utilising it well. I can also see the Aussie pushing...
here is my anylasis on GBP/AUD- now on the 5 th wave of the trend continuation. resistance held out and pullback to the 1.73556 level where remains at present. data tomorrow could have an affect on sterling also the RBA Minuetes meeting very soon. i would like to see 1.7750 get broken and the weekly bearish T/L get re-tested so we may see the sharp sell off needed...
I believe AUD is still going to push lower based on my Analysis on the Weekly TF on the AUD/USD chart. Therefore, I am looking to take advantage of entering a long position on this pair. This pair has been in a bullish trend forming perfect HH's and HL's. Price has now bounced of trend forming a bullish engulfing candlestick showing possible bullish momentum.
Everythings are discussed and shown in the chart. I will buy from the mentioned retracement but short term buy towards the support. Then i will sell from the KSP which i am expecting where market will reverse again.
KSP(key swing point) is important if it takes out and daily close above it then I will change my bias to towards resistence.
Happy trading. One...
the daily trendline has almost been reached I will be looking for a price reversal at this level for a short opportunity or a breakout and consolidation for a buy up to the previous high. no trade has been taken as yet.