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Gbpaudanalysis

GBP/AUD:NEW SWING OPPORTUNITY+STOCH DIVERGENCE|LONG 🔔Welcome back Traders, Investors, and Community! Check the Links in Description and If you LIKE this analysis, Please support our page and Ideas by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Long
by FOREXN1
3
GBPAUD | Perspective for the new week | Follow-up detailsWith over 600pips in our direction since my last publication on this pair (see link below for reference purposes); The price hit a peak around AU$1.85000 in June 2021 and has since then continued to find lower lows. The appearance of a Double Top structure on the chart is a very strong clue that hints at a reversal momentum building as we experience a significant Breakdown of Key level I @ AU$1.84100 during the course of last week trading session. In the UK, the newly appointed Health Secretary Sajid Javid insisted that the reopening remains intact, showing confidence about returning to normal. However, as cases continue rising – and hospitalizations are inching higher – market participants tend to cast doubt over loosening of restrictions on July 19 which might have a negative impact if not indecision on the Pound in the coming week(s). Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Channel | Reversal pattern (Double Top & Triple Top) Observation: i. It has been a Bullish run for the Pound since the beginning of the year - 2021 hereby hitting a peak @ AU$1.85000 which is followed by a lower high to transition into a Descending Channel. ii. The inability of price to touch and surpass the previous high (AU$1.85000) increases doubt on a further rally as a Double Top pattern emerges on the chart. iii. Double Top: We do have an extremely bearish technical reversal pattern in play after the price reached a peak two consecutive times (AU$1.85000 & AU$1.84800 respectively) with a moderate decline between the two highs. iv. Even as we await a confirmation which will happen if the price falls below the support level @ AU$1.82700 (Neckline of Double Top) that equals the low between the two prior highs; there is an evident structure that occurred between 30th June & 2nd July 2021 which is characterized by multiple rejections of AU$1.84600 (Triple Top) that signals Bearish tendency in the coming week(s). v. TRIPLE TOP: formation of three peaks moving into the same zone @ AU$1.84600, with pullbacks in between can be considered complete immediately the price broke down pattern support @ AU$1.84000 on the 2nd of July 2021, indicating a further price slide in the coming week(s). vi. The early hours/days of the new week might see a price climb to test the Neckline of Triple Top @ AU$1.84000 to incite further decline. vii. If a climb happens, I have identified a niche around AU$1.83900/1.84400 for selling opportunities. viii. A plunge below Key level II @ $1.83500 (Breakdown/Retest) might welcome an addition to the existing position and a further plunge below AU$1.82700 welcomes another addition... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:6 Potential Duration: 3 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
2
GBPAUD long find momentum 📈💪Working our H1 GPBAUD strategy here. Last sell hit take profit target and now today's long is starting to gain traction. Entry details are shown on the chart. We're only looking for TP3. Trade history can be seen below this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
Long
by pow_removetheguesswork