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Gbpaudsell

GBPAUD Short OpportunityThis pair has recently formed a bearish flag right at 50% retracement and at Daily Resistance level which has numerous price activity around said level. Also notice that price is at the Bottom Cloud foreboding a breakout any moment. Volume is also decreasing as price rallies higher indicating that this is not a legitimate bullish move. Stochastics also indicate that price is ready for a free fall as it is in overbought territories. We enter positions either at the breakout of the bearish flag and/or Daily Resistance, or for more a conservative approach upon breakout of the trendline and place our stop losses above the bearish flag with take profit levels placed at a 1:1 ration of the pole measured from the breakout
Short
by UnknownUnicorn1066662
Double Top at market on GBPAUDHi guys, this morning we could have a chance to get involved in this trade. Now i'm going to explain you why: first of all, the big yellow box represents a daily structure level, this level happens to line up pretty well with the 618 retracement of the bigger daily leg. In this cases i seek for trading opportunities down on lower timeframes: on the hourly chart you can see we have a double top forming right now, with RSI divergence. An additional clue could be the psychological level price is testing (1,6700). I'm waiting to see how the next candle will be. Keep you updated. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Double Top on GBPAUDHi guys, this morning we could have a chance to get involved in this trade. Now i'm going to explain you why: first of all, the big yellow box represents a daily structure level, this level happens to line up pretty well with the 618 retracement of the bigger daily leg. In this cases i seek for trading opportunities down on lower timeframes: on the hourly chart you can see we have a double top forming right now, with RSI divergence. An additional clue could be the psychological level price is testing (1,6700). I'm waiting to see how the next candle will be. Keep you updated. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
GBPAUDGBP 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 carefully with a lot of attention. See also below a link to my GBPCAD position I did some days ago, it's still going strong short and it's about to form a nice add-point for people already in.
Short
by chastic