Aussie to reign over the Pound? - Ichimoku Short Trade SetupThis setup we will have to wait to develop a bit. I am looking for a slight rise to tenken sen where I will look for a confirmation of a sell. Two ways that could manifest itself is in the form of a good rejection candle with a long wick on top that closes below tenken sen, or for price to see a hard rejection there and start heading down. So we'll have to watch this one vs waiting for a trigger order like some of the other setups I walk through. If we see that good rejection I will enter a sell targeting previous price structure on the left side of the screen. I've also drawn out some partial profit levels where I'll look to trade profit and risk off the table should I enter a sell. If we fail to get a strong rejection at tenken sen, we may also look for that rejection at kijun sen. If those both fail, this setup may become invalidated.
Gbpaudsell
GBPAUD Trend Change incoming...We can see here GBPAUD has made new lows, broken the long term trend line and rejecting at the resistance zone to find confluence with the 38.20% Fibonacci level giving a sell indication.
Confirmation for trend reversals:
Trend line break
Support/resistance break and retest
Fibonacci level retest 38.20% - 61.80%
BEAR with me Price is at a resistance level and we are expecting it to respect this level, now it isn't the strongest level in the world but over the weekend there has been a lot of uncertainty and negative news surrounding brexit, a big march with thousands of people protesting, MPs calling for May to step down as priminister and the growing possibility that we might leave the EU with no trade deal.
We are expecting a bearish market gap at opening tonight with a couple of days bearish movement, from where price is now to our green zone is a 200 pip move which we are expecting price to reach this week.
We are just going to have to BEAR with Brexit as we can see a lovely bearish week coming.
Please be careful if you are trading GBP pairings though, use correct risk management and a tight SL.
EMOTIONS + TRADING = FAILUREWe are looking at a lovely sell on this pairing with a possible retest of recent highs, in our last post we could see price following our TL down to our area, price did break this TL and we can now see price re testing our resistance level before making a move lower to our green zone.
Remember trade with patience, without this you will loose to the market, also trade with NO EMOTIONS as these emotions will make you think and act differently when you loose a trade of up the lot sizes.
Clear your mind of all the BULL#HITWe can see that price is respecting our trend line and has recently spiked through it, the current candle is a big bullish one and we can only see this level been respected again, so bearish movement from here... SIMPLICITY IS KEY.
Clear your mind of the bull#hit and trading is really simple.
GBPAUD - WEEKLY SWING - 12. MAR. 2019WELCOME TO DACAPITAL-TRADING!
GBPAUD FOREX BREAKDOWN 12 MAR 2019
1 HOUR
Very strong price action occurred into our resistance level
4 HOUR
Bullish market turning bearish with good short entrys now!
DAILY
Overall bullish market with no pullbacks, we need some price movement to the downside!
LEVELS
SELL GBPAUD
ENTRY @ 1.86670
SL @ 1.87920 (125 Pips)
TP @ 1.84810 (185 Pips)
RR: 1.50, use 1/3 of normal risk!
IF YOU HAVE ANY QUESTIONS LET US KNOW IN THE COMMENTS
ALSO LEAVE US A LIKE TO KEEP OUR CONTENT FOR FREE!!
200 pip FREE TRADEWe are looking for a possible retest and bounce of key support before we jump in this trade, if we do get the bounce then we could see a possible bullish rally of around 200 pips.
But you must wait for the retest and bounce because if price does break this strong level then it could sink.... so just be patient ;p
SHORTBREAD... who doesnt love biscuits ;p Price hit resistance at the top and is now following a lovely trend line, we expect price to follow our TL down into our green zone which has previously been used as a key support and resistance area, so this is where our TP will be placed.
This trade will give us 100+ pips, but if you take this trade please remember to use correct risk management.
So go SHORT and get that BREAD ;p
GBP AUD KEEP THINGS SIMPLEPURPLE ARROWS - RESISTANCE
SUPPORT/RESISTANCE 1.81008
1.81008 Is a key level we have used a number of times before if you look back at old charts, you can see where price has been used from our arrows.
Price has recently bounced off this level, now we might get a retest of this level but the general movement is to the downside.
You can also see on the 1D and 1W charts that bearish movement is also strong and price is respecting this level.
You must always look at the higher timeframes to back up your analysis, you wouldn't buy a house without getting it checked out for damages 1st would you? that would just be throwing money away just because you hadn't done your research... So why the f#ck would you do the same thing in the Forex market?
And remember KEEP THINGS SIMPLE!!!!!!
GBPAUD Analysis+SignalWe have graphed up a technical model of Head And Shoulders Pattern! What Is A Head And Shoulders Pattern? "is a chart formation that resembles a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. that an upward trend is nearing its end" (Content is an Investopedia client)
As I indicated with the arrow within the graph the price can still go down 1.7600, 250 pips from today's price, then there are two options that can happen or the market will continue to fall below 1.76 or it will go for another upside attempt
Our recommendation:
Sell GBPAUD
Entry Price: 1.7965
Stop Loss:1.81
Take Profit: 1.7600
Double Delight FREE Money... Thank us later1.80551 area is acting as historically strong resistance and price is respecting a bearish trendline, At the moment price is touching both our trendline and resistance level so this is a strong sell, providing there is no market gap at open tonight.
If a market gap to the upside happens we will stay out of this trade and see how the market plays out tomorrow as it might retest these levels as support, but if price opens below our line and level then we will be jumping into a sell position head first.