GBP AUD - long term buys - impulse into the range again
Updated
Hello traders and analysts,
We have an update to our GBP AUD trading range - price is still very much ranging but we have managed to yet again catch a trade to the upside whilst still hedging the downside movements.
Over the end of last week, we saw the Aussie get stronger but was not enough to break through to 1.78 area. so the demand zone still stands and the range is in play and active.
COT Data: Aussie
Long Short Total %Long %Short
Avg_13 30,441 54,256 84,697 36% 64%
Avg_20 33,958 63,290 97,248 35% 65%
Avg_50 39,133 76,363 115,496 34% 66%
Avg_130 38,877 76,625 115,502 34% 66%
COT data: Pound
Avg_13 32,923 49,892 82,815 40% 60%
Avg_20 41,245 43,918 85,163 48% 52%
Avg_130 43,323 68,286 111,609 41% 59%
AVG_50 43,547 67,458 111,004 41% 59%
Technicals:
What can we see technically?
- Daily bearish but breaking momentum short in the channel.
- weekly bearish zone touched
- bounce from the demand zone zone.
- we can see the trend beginning to add long positions to correct - this has now occurred.
- we have made lower lows and lower highs- showing the correction
- now in a consolidation zone with some great wicks formed and a reversal to the upside - this has been boosted by GBP Tuesday as of writing.
-AUD USD ranging market looking to break 0.70 for upside strength.
-Large downside gap to fall to if price looks to create a new low structure in bearish confluence and momentum trading.
- COT report in favour of AUD however, risk off will shift sentiment.
Fundamentals
Aussie is a commodity currency so is highly affected with exports of natural resources, Gold , Oil , Grains, Copper etc.
Victoria lockdown has caused issues for the restart of the border openings
USD outlook affects the progress of strength for Australia.
Coronavirus within the US sees an affect on the economy for the US as a result affects directly Australia where the index correlates.
USD sees 1Trillion package for stimulus package.
Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted.
Trade what you see, this is purely our Bias.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment.
Many thanks for your support to our existing and new followers. Much appreciated
Thanks,
Team Lupa.
We have an update to our GBP AUD trading range - price is still very much ranging but we have managed to yet again catch a trade to the upside whilst still hedging the downside movements.
Over the end of last week, we saw the Aussie get stronger but was not enough to break through to 1.78 area. so the demand zone still stands and the range is in play and active.
COT Data: Aussie
Long Short Total %Long %Short
Avg_13 30,441 54,256 84,697 36% 64%
Avg_20 33,958 63,290 97,248 35% 65%
Avg_50 39,133 76,363 115,496 34% 66%
Avg_130 38,877 76,625 115,502 34% 66%
COT data: Pound
Avg_13 32,923 49,892 82,815 40% 60%
Avg_20 41,245 43,918 85,163 48% 52%
Avg_130 43,323 68,286 111,609 41% 59%
AVG_50 43,547 67,458 111,004 41% 59%
Technicals:
What can we see technically?
- Daily bearish but breaking momentum short in the channel.
- weekly bearish zone touched
- bounce from the demand zone zone.
- we can see the trend beginning to add long positions to correct - this has now occurred.
- we have made lower lows and lower highs- showing the correction
- now in a consolidation zone with some great wicks formed and a reversal to the upside - this has been boosted by GBP Tuesday as of writing.
-AUD USD ranging market looking to break 0.70 for upside strength.
-Large downside gap to fall to if price looks to create a new low structure in bearish confluence and momentum trading.
- COT report in favour of AUD however, risk off will shift sentiment.
Fundamentals
Aussie is a commodity currency so is highly affected with exports of natural resources, Gold , Oil , Grains, Copper etc.
Victoria lockdown has caused issues for the restart of the border openings
USD outlook affects the progress of strength for Australia.
Coronavirus within the US sees an affect on the economy for the US as a result affects directly Australia where the index correlates.
USD sees 1Trillion package for stimulus package.
Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted.
Trade what you see, this is purely our Bias.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment.
Many thanks for your support to our existing and new followers. Much appreciated
Thanks,
Team Lupa.
Trade active
our zone was not rejected so the trade became invalid - instead now monitoring the long position and have taken 90% of profits available.look to add when price makes a new move
Trade closed manually
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