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AUDGBP

GBPAUD Short term and Long term, Part 2The previous analysis on this one played out quite nicely and we have been moving towards that long term entry zone on the right as well. Past week it formed a nice bullish wedge on the right, but that one failed eventually and the price has been dropping some more since. When we look at the right, we can see the big yellow triangle has the shape of a big wedge as well. This tells me that the price actually does not want to drop. At the moment i don't have a short term play here, so i will be looking for a long term entry. To play it safe, i will be waiting for a break of that thick black resistance line. If i see a pattern form coming days at the low i might still give it a try, otherwise i will probably just keep waiting for that yellow zone to get in. Assuming we see a movement like that blue line of course, so a breakup and a retest of support. Previous analysis:
by botje11
1
GBPAUD Short term and Long termOn the left we can see a broadening triangle, which looks very legit. At this point it is against resistance again, so we could see some rejection. With a pattern like this, we usually don't see a big break right away. More often we see a drop first, see where buyers step in again and create a higher low before breaking up. On the left there is no weakness yet, but that previous red candle, with the wick, might be a sell signal already. If we don't just drop, there is still a chance to see a bearish wedge forming. If we see that small green support break withing the next 6/8 hours, we could see the start of a drop or a test of the support of that wedge. So this is an interesting one to keep an eye on, i think it give trades for bulls and bears when waiting for the right moment or pattern to play out.
by botje11
GBPAUD targeting a juicy supply zoneGBPAUD Nicely rejected 1.7588 zone, following the noted trendline to create a new low. I am of the opinion that the price will return to the 1.7800 region where price will attempt to breach this level, however it has held as support for quite a while. I believe it needs to retest as resistance before we can continue on our way down. Exciting times in GA lol. Comment, DM, like, follow... Whatever lol Just let me know my posts are not in vain :'D Appreciate - I am pretty sure I have put some $$$ in some of your accounts. Trade safe.
Short
by myronemoyo
2
GBPAUD: Long 1.7600 Still Holding (Update)Hey Guys, Still holding my trade that I posted about two weeks ago, however reentered at slightly lower levels. Scared money doesn't make money. As well as PATIENCE. Don't lose a good position for a short term movement. This is why risk management is KEY. We have been stuck around the 1.7520+ region for a while, however the Weekly level held (Nice wicks on the weekly candles), and the fib 61.8 level added additional confluence, with the 200MA acting as long term dynamic support. Currently trading at OANDA:GBPAUD - but as per post we have cleared the 1.7700 area with a 4H close... we look towards reaching our goal of 1.7900 soon. Take a look at GBPCAD, looks like it is following similar suit. Trade safe, trade well. And remember... Pippin' ain't easy...
Long
by myronemoyo
GBPAUD analysis on H1 ChartGBPAUD H1 Chart It has repeatedly returned from the same support line Again, the formation of a peak can be expected. If it break the support line and the green field is closing, the price may fall to a very low level. If it ascends, it will go up to the blue line and fall back. If it passes the thin blue line, it goes up to the thick blue line. ***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*** I'm sorry for the impaired expression..Just watch the chart, not what I write. :) PS make sure you give me a like, If you LIKE this analysis .... If you like most of my analyzes, FOLLOW me . GBPAUD Daily Chart
by KasaDairesi