Price action has completed a Gartley pattern at a major daily resistance zone for this pair. The completion of this pattern is in line with our long strategy therefore we have set our take profits on the green zones. OANDA:GBPAUD
A potential trade opportunity with massive gain
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Use position size calculator DO NOT RISK more than 1% SL: 1.76800 TP: 1.87000
Hey Traders , here you have a technical analysis for GBP/AUD, which is also related to the fundamental news and both countries economies
General trend seems bearish, might get a minor pull back before a huge sell or we could possible see a waterfall at CMP depending on how the market reacts in the coming week.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
GBPAUD Long MACD Divergence Bullish reversal Candlesticks On Daily time frame
We have a short technical setup that matches our sell signal generated by our system.
Biased long on this pair but expecting a move down in the medium term to prior support.
A reverse in between 61.80 and 50 fib could result in a chikou reverse under clouds and confirm a short position. I'm bearish in general on gbp. The macro economics starts to show weakness after brexit, which I believe WILL happen.
If price breaks the downtrend, then 500+ pip jump over time back to previous resistance.
We have approached a resistance trend line which started back on April 21st 2017 and a resistance dating back from May 6th 2010...if not even further back. We also have a bearish divergence on MACD and Momentum. If price breaks resistance it would be invalid.
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... more detailed stats (all 21 Major Cross-Rates) of 2nd week 2017 @ my GOOGLE Drive drive.google.com Best regards :) Aaron
GBP is not doing good these days. That's why I think there is room for a minor position in this >late< buy point. Because of the overall down trend on this chart and trading below all the EMA and MA's, it is save to say it might go a bit lower. I think it is fine to have a 160 stop-loss because it had 7 days straight with loses. So it might kick a bit soon. Trade...
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron