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Gbpaudsetup

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
20 Reasons for sell GBPAUD 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1 ✨Eagle eye: Yaely time Frame this is a current bearish solid trend even from 2002 to 2020. the massive volume also included in the selling side, according to the big picture, no chance for a reversal already best-ranging market 2 📆Monthly: another established bear trend proper higher lows current market is in a correction phase 3 📅Weekly: correction phase, prices make a halt and trigger event, now prices are ready to go down for fill weekly FVG 4 🕛Daily: after making two higher lows and prices corrected themselves, filling taping the previous OB and taping can go down 90% chance 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: bear 6: 2 Pattern Candle Chart: double rejections with proper momentum candles before it a key reversal 7: 3 Volume: high volume at the top 8: 4 Momentum UNCONVENTIONAL Rsi: resisstence at 60 level 9: 5 Volatility measure Bollinger bands: full squeeze with a head-fake type formation 10: 6 Strength ADX: bear are just begun gaining strength 11: 7 Sentiment ROC: GBP is weaker than AUD ✔️ Entry Time Frame: H4 12: Entry TF Structure: clean bear 13: entry move: wait till correction 14: Support resistance base: previous ob and fvg 15: FIB: Nill ☑️ final comments: sell at correction 16: 💡decision: sell 17: 🚀Entry: 1.7900 18: ✋Stop losel:1.7950 19: 🎯Take profit: 1.7311 20: 😊Risk to reward Ratio:1:13 🕛 Excepted Duration : 3 days
Short
by Optimum369