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Gbpaudsetup

GBPAUDOur setup on GA from last week is still very much valid coming into this week, price still finding it hard to break through the inner resistance around 1.75045 with price forming a double top on 4HR timeframe and a third touch rejection on daily TF. I expect pice to respect this formation giving that it gave us a bearish engulfing on daily TF last Friday. Price might give us a third touch on my trendline around 1.73215 or form a "W" pattern bounce off at 1.72596 before the big move upward. Trading recommendation: Watch for potential sell opportunity around 1.74371 TP: 1.73215 As always, we react to what we see in the market and always take fundamentals into consideration before entering the market!
Short
by djhopssy
1
GBPAUD Trading Plan - 8/Feb/2023Hello Traders, Hope you all are doing good!! I expect GBPAUD to go Up after testing OB + Gap. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Long
by For3xScalper
GBPAUDIf you followed my analysis on GA last week, we took a short buy which got to our TP but as i said the overall trend on GBPAUD was a sell. The sell did happen at resistance level of 1.76229 around the 50% fib level but price got rejected again on the support level at 1.72596 and also bounced off my trendline (Third touch) which further confirms the change in price direction for a buy. I expect a push back up to 1.76229/1.77262 for a proper rejection before the main SELL happens! Mind you, we also have to take into consideration of the upcoming fundamental news this week on AUD cash rate followed by RBA statement on Tuesday and GBP monetary policy and GDP coming up on Thursday and Friday respectively. Trade recommendations: Look for a buy option around 1.73499 TP 1: 1.74910 TP 2: 1.76229 TP 3: 1.77262 Note: As always we react to what we see in the market!
Long
by djhopssy
GBPAUDGA bounced off the demand zone of 1.73410 last week although i won't be surprised if price comes back there to form a double bottom on 4HR timeframe for a proper testing of the zone before the major move upwards to 1.74919 (TP 1) and 1.76357 which will be my final TP and also happens to be 50% FIB level. The overall trend on GBPAUD is sell so the buy i'm taking is a retracement move which happens to be a short buy. The weekly candlestick closed with bearish engulfing and as we all know that engulfing bar rule states that the next candlestick often gets to the 50% level of the previous candlestick hence why we taking the short buy.
Long
by djhopssy
2
GBPAUD Short Idea. Will this major doubletop brings GBPAUD down?GBPAUD has its uptrend going on for sometime now and it's currently at the retest zone of a major double top in the weekly/monthly timeframe. Since the monthly and weekly shows bearish structure, I believe the GBPAUD will begin to shift from short term uptrend to downtrend after the retest on the double top neckline. Daily timeframe shows a bearish engulfing candle as confirmation, rejecting the neckline zone. Will look for Short opportunities when price pullback depending on which direction into the green zone / orange zone and continue heading lower to 1.77500 range (weekly support). First time sharing my idea here. Usually I don't really share ideas on TradingView. Do let me know what's your idea/feedback if you have. Thanks for reading my idea.
Short
by ckck15
2