Possible Retracement Before ContinuationThis pair looks like it has a huge retracement due this week before continuing for the short. Retracement may end in the 1.79129 zone before the short continues. If not, we'll keep going up to the next zone above for a fresh to test the last lower high.
BULL TPs:
• 1.78192
• 1.79129
• 1.80512
BEAR TPS:
• 1.75881
• 1.75308
• 1.73815
• 1.72856
Gbp-aud
GBPAUD - DAY TRADE VIEW.GBPAUD - Looking bearish on hourly charts, Trading close to the resistance zone.
My approach is a short sell position at current price 1.81015
Maintain stop loss around 1.81460
Potential downside target 1.80400 - 1.79900
Follow the levels as mentioned.
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GBPAUD testing a daily structure 🦐GBPAUD after a bounce on the weekly structure around 1.75250 started a retracement to the upside.
Price reached our previous target zone at 1.77800 and currently testing this area.
If the rice will close the daily candle above the structure we can set another long order according to PLancton's strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
$GBPAUD - Bearish flag trade setupHello guys!
Lockdown announcement will further affect the British Pound.
On September 22, prime minister Boris Johnson announced new national rules that could apply for the next six months or more. Do not panic, read the lockdown guidelines first, bars and pubs are still open until 10PM and deliveries are always open, so you will get your boose to watch APL. :)
Technicals:
GBPAUD has formed a bearish flag and most likely GBP will break the dynamic support and continue the bearish trend in the short-term.
Go short from this point and place SL above 1.79000 (risky as it might jump to test the dynamic resistance once again) or wait for a breakout and place a short order there. Up to you!
Channel falloutStrong weakness. Price falls out of channel with retest and breaks down the yearly floor (Camarilla L4) also with retest.
Considering the GBPAUD volatility we should see a significant drop through unchartered waters, most likely to yearly L5 (I didnt plot that).
This is no financial advise.
Top positive correlation 1 day
1 GBPAUD - GBPMXN 89.1%
2 GBPAUD - GBPCAD 84.6%
3 GBPAUD - GBPNZD 80.2%
4 GBPAUD - EURMXN 76.8%
5 GBPAUD - GBPCHF 73.9%
6 GBPAUD - GBPSGD 73.7%
7 GBPAUD - XBRUSD 73.7%
8 GBPAUD - XTIUSD 67.4%
GBPAUD can look for a retracement? GBPAUD on the 4h chart found support on a very strong weekly support.
Market bounce over it and start a range move between the support and 1.76600.
IF the price will break and close above the resistance area we can look for a long position till the 0.382 or 0.5 fib level of the previous leg.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
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
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 !!