Gbpaudsell
GBPAUD BEARISH TRADE IDEA UPDATEI projected a double zigzag In my previous analysis due to the nature of wave (a) of the correction. Fortunately, the confirmation level was not triggered and the market rally higher to complete a five-wave cycle in wave (c). The five-wave suggests that the whole correction is a simple zigzag pattern.
Price has made a deep correction that terminated at 78.6 Fib and the wave (c) also equal (a) within the blue zone. Price is expected to resume the bearish sell-off in wave 3 from or near this level while the invalidation zone remains intact.
Once the price breach the confirmation level, the invalidation level will be high at 78.6 Fib area.
What's your thought on GBPAUD?
GBP/AUD Counter-Trend Move GBP/AUD pair is likely to surge up on a larger time scale, however; we see a chance that a short-term move down might be in the books. As this is counter-trend (plus short term), we use tighter stop than usual.
Entry: 1.916
Stop: 1.922
Target: 1.906
Have a nice week! Follow for more!
GBPAUD Bearish Elliot Wave Trade SetupAfter topping out last December. Price seems to be making a series of lower highs labeled 1-2, (i) - (ii). Price is expected to resume the downtrend from or near the current level. The breach of the green line or a break out of the flag channel will confirm the bearish trend is still intact.
GBPAUD DAILY ANALISYSHere we got a possible nice set up where price has created a possible H&S pattern thart right shoulders lines up with the multi daily ressitence area,ascendign weekly TL and 50% fib and all this in confirmed by a 4h structure that has been formed right below this area so if price fails to clsoe above that structure after this retest we might see nice push to the downside atleast to the 1.8900 area
GBPAUD Market Outlook | Daily Forex Market BreakdownGBPAUD
Still waiting for GBPAUD to come a bit lower before I think about taking a trade. Seeing both Pound and Aussy strength so GA is showing some indecision and is going a bit sideways for the time being.
As always if I see any change in the market I will let you know!
GBPAUD Market Outlook | Daily Forex Market BreakdownGBPAUD
Breaking down GA as it was requested from one of our forex alchemists! You ask and I will deliver!
As you can see in the technical analysis above GA has been a bit tricky. We experienced multiple fake outs to the downside which is expected. This is why you don't just jump into a trade when all you see is a simple break of a trend line. I always say there is a lot of confusion in the market around trend lines so always be cautious.
After the fake outs to the downside GA pushed up quite a bit then showed us a beautiful double top. This is where more experienced traders would have taken shorts. I personally wanted to see price push up a third time giving us a clean entry! Remember there is always another entry or a better trade right around the corner, never rush things! Only gamblers force trades, we are focusing on becoming the best forex traders possible to make this a reality you need to develop ridiculous amounts of patience.
Patience, risk management, and always sticking to your trading plan is the key to longevity in this market.
IT IS NOT EASY, BUT IT IS DEFINITELY WORTH IT!
GBPAUD Market Outlook | Daily Forex Market BreakdownGBPAUD
Pushing to the downside a bit right now. That being said for the time being support looks to be holding. I have a similar bias to GU I believe that we were going to push back up and fail to make a new high and then we are going to roll over to the downside. Keeping a very VERY close watch on all GU pairs.