GBPAUD Approaching Support; Be aware of Bull TurnHello traders,
GBPAUD continued lower from latest 1.84 high, and is now trading close to potential support at 1.806 level, provided form a former swing high. Also fib. ratios of 50.0 and 61.8 (1.806/1.80 level) can react as support, and push price into a higher degree wave c. That said, once sub-wave c) or y) of b fully develop, and we see a rally in impulsive fashion, that is when correction as b may be completed, and wave c underway.
Trade well,
the EW-forecast team
Gbp-aud
GBPAUD In DowntrendGBPAUD is in a firm decline, a five-wave impulse down from March high. At the moment we see price resuming the downtrend, after recent minor corrective rally in wave 4, which ended at the 1.841 level. That said, wave 5 of an impulse can be underway, so be aware of new lows, as final leg lower can be targeting 1.73/1.72 area.
If wave 4 correction is still not completed, then be aware of a rise towards the Fib. ratio of 23.6 and 38.2 (1.84/1.87 level).
Trade well,
the EW-forecast team
Consolidating Getting Ready For A Bull Run?This pair looks like it's setting up for a bull rally further up this week. We were in a lengthy consolidation period. This may be the week after seeing this juke move that we do the climb up. Gonna play this out and see how it want to make the most of this false breakout.
BULL TPS:
• 1.82712
• 1.83971
• 1.85170
BEAR TPS:
• 1.81321
• 1.80812
• 1.79466
Trades that are still active until all bull/bears TPS hit…
EURCAD
XAUUSD
GBPJPY
GBPAUD price found support on S2 this early in the week This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
GBP/AUD Setup And Educational Welcome Traders >> We Have Here Opportunity And Direction For GBP/AUD
♦️ We Have Fibonacci Area 23.6 >> Waiting For Break Out
♦️ We Have Fibonacci Extension Area 23.6 >> Waiting For Break Out
♦️ We Have Very Strong Resistance Area >> Waiting For Break Out
♣️ Advice ♣️
Don,t Trade On GBP/AUD Swing Before Break Out Area ..
!! Please Take care Trading Is Very Risk Don,t Risk On Any Trade !!
GBPAUD: Consolidation and Complete Indecision
GBPAUD is stuck between two key daily levels.
the price is consolidating within a wide horizontal trading range.
1.814 is the support of the range.
in case of a daily candle close below that,
the price will most likely drop.
target level will be 1.796
1.839 is the resistance of the range.
in case of a daily bullish violation of that,
the price may continue the July's bullish rally.
target level will be 1.853
also note that for intraday trading, you can short the market from the resistance of the range
and buy from its support.
currently the boundaries of the range serve as supply and demand areas.
good luck
GBPAUD - SWING - 25. AUGU. 2020Welcome to our weekly trade setup ( GBPAUD )!
-
1 HOUR
Market broke out of our range.
4 HOUR
Jumped back into our trend direction and closed above main sr level.
DAILY
Overall slowly rising sideways market structure, expecting another push to the upside!
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FOREX SWING
BUY GBPAUD
ENTRY LEVEL @ 1.82330
SL @ 1.81410
TP @ 1.83790
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
Fall to yearly S1Longterm view. GPBAUD is likely to keep falling to the last major weekly swing low - yearly S1. When it reaches S1 watch for reversal.
Yearly pivots, that is where major reversals take place. Price usually travels between yearly pivot and S1 or R1 during the year.
As you see, in 2017, 2018 and 2019 GBPAUD stopped and reversed at yearly R1.
Watch price action at yearly pivots.