GBPAUD Overview week commencing on the 13th Dec. 2021
Weekly chart - closed strong bearish engulfing 2 weekly candles. Could still some bearish for this week.
https://www.tradingview.com/x/32Z7ZDnf/
Daily Chart - broke minor level of support came back around the area of previous resistance and rejected (could we come lower or potentially start raging?)
Previous Daily candle - doji showing some indecision around the "minor" support which can now potentially become support.
https://www.tradingview.com/x/BOZmg45d/
H4 Chart - Previous level of support broken and being retested a potential resistance now, in line with 38.2% Fib level.
https://www.tradingview.com/x/JB1yjfia/
30m Chart - ABC corrective (just reach TP level and new level of resistance established), 2 approaches can be taken:
Aggressive approach: if a double top scenario happens then short at the double top!
Conservative approach: wait for bearish confirmation on 30m Chart break of support level (then retest as resistance) before shorting
https://www.tradingview.com/x/rXV47SES/
Follow up as the week goes on....
https://www.tradingview.com/x/32Z7ZDnf/
Daily Chart - broke minor level of support came back around the area of previous resistance and rejected (could we come lower or potentially start raging?)
Previous Daily candle - doji showing some indecision around the "minor" support which can now potentially become support.
https://www.tradingview.com/x/BOZmg45d/
H4 Chart - Previous level of support broken and being retested a potential resistance now, in line with 38.2% Fib level.
https://www.tradingview.com/x/JB1yjfia/
30m Chart - ABC corrective (just reach TP level and new level of resistance established), 2 approaches can be taken:
Aggressive approach: if a double top scenario happens then short at the double top!
Conservative approach: wait for bearish confirmation on 30m Chart break of support level (then retest as resistance) before shorting
https://www.tradingview.com/x/rXV47SES/
Follow up as the week goes on....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.