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GBPAUD

EW ANALYSIS: Potential Bullish Setup On GBPAUDHello traders! Today we will talk about GBPAUD and its potential bullish setup from technical EW perspective. As you can see GBPAUD is trading bullish and looking at the 4-hour chart, we can see a slow three-wave a-b-c corrective decline from the highs, ideally in wave 4 according to the 38,2% Fibonacci retracement and previous three-wave correction in wave 2. So, if we are on the right path, then we should see a continuation higher back to 1.9100 highs for wave 5. What is very interesting is that we have seen strong and impulsive bounce after a completed ending diagonal (wedge pattern) right at the end of the month, which can be an indication of a completed correction in wave 4. Another interesting thing is that after today's intraday three-wave a-b-c corrective decline into an important 61,8% Fibonacci retracement, we have also noticed a potential inverted Head And Shoulders pattern. So, from trading perspective we want to see a broken neckline and 1.8800 region next week, which would confirm our wave count. And if we are right, then we will probably see a bullish continuation within a new five-wave bullish cycle back to 1.9100 highs for wave 5. If from any reason goes back below 1.8650 region, then our count would be invalidated. Be humble and trade smart! If you like what we do, then please like and share! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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by ew-forecast
GBPAUD – Bears hasn't react yet, so daily analysis will show us GBPAUD – Bears hasn't react yet, so daily analysis will show us if sellers are ready to react very strong Trend: Strong Buy Support/Resistance: R4: 1.97145 R3: 1.94481 R2: 1.90087 R1: 1.88622 S1: 0.86416 S2: 0.84203 Price action: This currency pair is currently is strong trending, which is headed to new higher highs. Gbp currency recover from fundamental reasons. Tehnically has to confirm resistance level at 1.88622 to hold above and continue to Higher High level at 1.90087. If buyers will show their performance much stonger, then we might see all target levels. Potencial trade idea: Bulls targets: T1: 1.90087 T2: 1.94481 T2: 1.97145 NOTE – We are trading GBPAUD via the preferred trading setups by EliteFxAcademy
Education
by MP4
DO NOT HOLD GBPAnother week is coming to an end and we have had some immense volatility across GBP pairs. We have some heavy GBP data this evening AFTER market close which has a high probability at showing if there is going to be a deal in regards to Brexit. With that being said, it is HIGHLY advised to close ALL GBP positions, as the future is unknown and come market open, we could potentially see a gap at 100 pips and beyond. If you are on the wrong side of the trade, it doesn't matter where your SL is placed, it will close the trade at market open, so for those that are new to trading, the consequences of not following this advice, could end up with you having a blow account! *Always take a look at an economic calendar like the ones provided by FXStreet and DailyFX. If there is big news coming out over the close of the market, it is always best to stay out of the trade!
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by wakethesheep
Trading on divergence signalsEDUCATIONAL PURPOSES: There are several indicators that one can employ during the course of analysis. One common indicator will be the Relative Strength Index. What can you draw from this indicator? Overbought and Oversold signals! However, one can also use this indicator to spot divergences in the price and the relative strength! Above are 3 examples of RSI divergences: AUDCAD, AUDSGD and GBPAUD. The main idea is to look out for differing directions between the price and the RSI within the same period. As we can see from AUDCAD and AUDSGD, price was creating lower lows while RSI was creating higher lows. This is an example of a BULLISH RSI DIVERGENCE, and price will soon start correcting. In the case of GBPAUD, another higher high on the price carves out a lower high on the RSI. This shows that there is a BEARISH RSI DIVERGENCE, and price will soon start correcting. Spotting divergences helps with timing of trade entries (whether it is too late or too early), exiting of positions and/or adding more positions. You can also use this as a trigger for a trade (i.e. a Long trade in AUDCAD, or a Short trade in GBPAUD). The time frame that you use to spot divergences will affect how long you have to wait for price to start correcting (i.e. shorter time for H1 as compared to Daily). **One important point to note when spotting or trading on divergences: Observe for price action in line with your bias (bullish price action for bullish RSI divergence, vice versa). RSI divergences can fail should it carve a higher high or lower low that is in line with price.
Education
by TraderMozo
10
GBPAUD - EDUCATION - 23. JUNE. 2019Welcome to DACapitalTrading, We provide any kind of Technical and Fundamental Analysis for Forex and Crypto-Currency Markets every day! - 1 HOUR Very bullish price action.. 4 HOUR Price forming several HH and HL indicating a bullish pressure pattern. DAILY Sideways waving market found resistance now and is slowing down. OVERALL Price action is slowing down and found resistance, expecting a last push to the upside forming new H4 Highs before heading back down to average price movement and psychological support level. Will update everyone on monday! Good luck - Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Education
by DACapitalTrading
16
How I trade News with high probabilty and a Great RRR :) Trading news can often be a nightmare especially trying to trade at the time of release as brokers often widen their spreads and slip orders to the extreme of the spike. This is a high probability method with Great RRR As you can see the market spiked up on worse then expected AUD GDP news. then the market went into a consolidation, and this is key to finding great entries. After the market consolidated for at least 60 minutes, look for a support level for a buy and a resistance level for a Sell. Place a limit order at the support/resistance level with stop appropriate for the pair. (in this example I am trading GBPAUD - my fav, so I use a 20 pip stop) Place your profit target at 5x your stop. This gives you a Robust 5-1 RRR. let the trade unfold. If you have any questions, either place them in the comments or message me Hope this helps :) Allen
Education
by AGold54
6
When Not to TradeSometimes it is better not to trade. Today for me, was one of those days. I was extremely tired, which happens from time to time as I get up at 1:30 am my time to trade. This can lead to mistakes. Today's trade idea is a good example, although GBPAUD was in a bullish run and I was looking and posted an idea for a pullback trade, there was signs of a reversal. I believe if I was awake and thinking clearly, I would have seen these signs from the beginning. Fortunately, I was able to close my long trade for a small gain (+ 5 pips). The following is a list of indications that I missed because I was tired. First, The market had already pulled back and bounced off of my moving average, so it is less likely to happen again; Second, the Ma was flattening, as opposed to staying in an uptrend, which is never a good sign; Third, I missed that the market had hit the 60 min Senkou A, which can always be expected to provide resistance; Fourth, The market fails to hold bullish as evidenced by the long wicks. Moreover, This is a great indication that the market is getting ready to reverse and a great selling opportunity IMHO, Trading is hard enough without making avoidable mistakes. I hope this helps others Allen
Education
by AGold54
2
GBPAUD Long example of how I tradeWhen looking for trades, my purpose is simple: I look for High probability trades with good RRR (risk reward ratio) I consider a trade high probability if it has an 80%, or better, historical success rate. A good RRR (risk reward ratio) is 3-1 or better. meaning that we are risking $1 to make at least $3 Understand that by maintain a 3-1 RRR, even if I lose over 50% of the time, I will still make money. Combine that with High probability trades and your golden. That said, there are not a lot of trade opportunities that met this criteria everyday. So I am not the guy who is going to post alot of trades, most days I only take 1 trade. I risk 2% per trade,( because I have earned that right which is a different conversation), to make 6%. Generally, I will net 15-20% per week. I start with a strength and weakness anylasis from the prior day's trading and rank the currencies numerically. for example today "S GBP 5" means that GBP was ranked 5th while "W AUD 7" Aud was ranked 7th obviously GBP was stronger than Aud. So we start the day with a Buy bias. this is confirmed before I start trading, which is generally at the European open (currently 2am est). I then look at multi-frame analysis using Ichimoku Kinko Hyo concepts. Primarily the Kejun-Sen (KS). I look at the Daily the 60 and the 15 min Tf's. Ideally, price will be above/below the KS on all 3 tf's, but the Daily as in this example is not necessary. Moreover, we need price above/below the Ichimoku Cloud. Next is the Asian box, if the market has consolidated during the Asian session, as it often does, I will mark the high and low, creating a box. In the example above, we have the 60 KS (blue line), which is above the cloud at 1.82119. that is the bottom of the box as it is a place that found support during the Asian session. The Daily Senkou B, in this case provides the top of the box. Generally, the Daily Senkou's A and B, provide solid resistance or support. Putting it all together, in the above example, since price is above the 60 Ks, the 15 Ks and the cloud in the conformity with our directional bias, we have a Type 1 trade, which has an 87% success rate. these trades are Great!!! We have 2 potential buy entry points: 1st is a pullback to the bottom of the box at he 60 KS the 2nd is a breakout trade. However because in this example we are using the Daily Senkou B as the top of the box we need a close above it, not just penetration. As you can see the 2:45 candle closes above the Senkou B and we can enter a long trade. Using a 20 pip stop and a 60 pip profit target. This hits perfectly (what a great example) but seriously you can look back at my other trade idea's and see similar results . I hope this provides a general idea of what I am trying to do tradewise. feel free to hit me with any questions AGold 54
Education
by AGold54
6
GBPAUD Short Technical Analysis: -Price broke below the MA pretty aggressively -Now retesting the purple zone which was previous support -Confluence between the zone and MA Emotions: -Saw price reacting to this level a little late, price wicked the kill zone to a T but now I may have missed the entry already. Not rushing into this trade, set my limits just in case price decides to wick up there one more time. But if the targets are met then I will delete the pending orders. ** Saw this trade just a little too late and may have missed the entire entry, but regardless this is a good lesson to see how well price reacts to this setup.**
Education
by EsotericTrader
Potential GBPAUD reversal to downside.After closing last week with a shooting star back below the resistance level of 1.8250, we completed a fibonacci retracement of 71.00 on the daily TF. Creating a H&S pattern on the hourly TF we broke, closed below and retested the trend line and resistance level again. Im looking for a potential short to the D extension at 1.7700, with support in between at 1.8000 and 1.7900 . If we could break both supports, we might continue and break the weekly support of 1.7750 to continue to the next D extension and monthly support around 1.7500 - 1.7457. But I'd like to see the weekly support tested since we know there's a 75% chance of hitting the weekly key levels after breaking a monthly key level.
Education
by Newplanettrading
1
GBPAUD potential Head and shoulder pattern GBPAUD May give us a great sell opportunity if the price break the Head and shoulder neck line. for who don't know what is the Head and shoulder Pattern it is > One of the most popular Chart Pattern. This pattern appears on all times frames and can therefore you can use it if you are a swing trader or a Daily trader. Formation of the pattern 1. Up trend 2. It is formed by a peak (shoulder), followed by a higher peak (head), and then another lower peak (shoulder). 3. The neckline is drawn by connecting the lowest of the two troughs Entering: when the price break the neckline Stop loss: above the right shoulder Target: calculate a target by measuring the high point of the head to the neckline.This distance is approximately how far the price will move after it breaks the neckline. Don't Forget to follow and Like if this article have any value for you. Good Luck
Education
by IhabMax
Why its SO important to stay DISCIPLINED!!!Here is a great example on why it's so important to stick to your plan and follow your rules 100%! GBPAUD 60min Bear TCT: Notes are on the chart Would you have been disciplined enough to watch the market get 99.9% to Target #1 and sit through a 150 Pip Reversal and losing half of your profits? Then watch the market come down and Double Bottom just ahead of Target #1. Seeing a Bullish Hammer at the Double Bottom? If you did have enough Discipline/Focus then you would have been rewarded with a lot of Pips! In these situations I always remember what my Mentor preaches... "It's all about Process over Outcome". What this means is that it's not about the money or pips you make but its about your process of trading. Will you follow your Trading Plan that you have backtested? Will you stay Disciplined? Will you stay Focused? Will you forget about the money and just focus on the Process!!!??? If you can then you will be that much closer to succeeding in this business!! Happy Trading :)
Education
by PateSkpate
28