Gbp-aud
GBP/AUD: Power candle, I'm buying it!I am bullish on this pair. The reasons are the following:
- Price is above the daily pivot level
- Price is above the KUMO (cloud)
- Price is producing higher lows and higher highs
- Price bounced off the cloud as a trend continuation
- We have a power candle as highlighted in my chart.
So it seems at the moment buyers > sellers
Power candles are candles with thick bodies. Their closing should be located at the highs (if it's bullish) or at the lows (if it's bearish). We shouldn't see any kind of large wicks at the closing of these candles.
A power candle is also usually exceeding the range of the previous candles (highs-lows).
I am targeting the previous highs as T1 and the fib level as T2.
Trade with care and at your own risk
GBP/AUD breaking pointGBP/AUD is now under weekly trendline, also retested it and now there are 2 scenarios. Red one = Price stays below resistance and under trendline, we can expect more fall in price.
Green one = Price will break resistance, then we can expect price going back in weekly trendline and we can consider it as a fake breakout
GBP/AUD Waiting for the Pullback by ThinkingAntsOk🔸 WEEKLY CHART EXPLANATION:
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🔸Price broke the Ascending Trendline.
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🔸It is now making a corrective move.
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🔸We are waiting for a retest of the broken trendline before considering a short trade.
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🔸 Will look for a lower timeframe bearish setup.
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🔸 DAILY CHART ANALYSIS:
GBPAUD price just triggered our alert in our bullish zone. 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!
GBPAUD - SWING - 20. JULY. 2020Welcome to our weekly trade setup ( GBPAUD )!
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1 HOUR
Very bullish price action and closure above main sr level.
4 HOUR
Great market movement, prices at their lows.
DAILY
Good long entries following pa.
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FOREX SWING
BUY GBPAUD
ENTRY LEVEL @ 1.80320
SL @ 1.79400
TP @ 1.81630
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN