Bias Bearish
Fundamental Analysis
GBP is neutral in COT, data is turning bearish with time. GBP expected to reduce more basis points.
AUD is still holding strong with gold AUD most likely to hold interest rate as inflation in AUD still high
Price Action:
Price retested Daily -OB. Price rejected from it. In H1 TF, price rejected and change of market structure. Price also formed a FVG in H1 TF after breaking previous low aligning with higher tf.
Confluence:
Higher TF (W/D/H4) - Daily -OB
Lower TF (H1/M30/M15) - H1 FVG
Set up:
Short setup at H1 FVG
SL above the swing high.
TP swing low of Daily TF with 3 TP levels
Fundamental Analysis
GBP is neutral in COT, data is turning bearish with time. GBP expected to reduce more basis points.
AUD is still holding strong with gold AUD most likely to hold interest rate as inflation in AUD still high
Price Action:
Price retested Daily -OB. Price rejected from it. In H1 TF, price rejected and change of market structure. Price also formed a FVG in H1 TF after breaking previous low aligning with higher tf.
Confluence:
Higher TF (W/D/H4) - Daily -OB
Lower TF (H1/M30/M15) - H1 FVG
Set up:
Short setup at H1 FVG
SL above the swing high.
TP swing low of Daily TF with 3 TP levels
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.
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.