GBP/AUD Long IdeaHello Traders
Last few weeks were so harsh for GBP/AUD as this pair had a non-stop falling.
Now its seems GBP found some space to breath.
We believe Price will see some Correction.
Also:
1- We can see Dragonfly Doji Candle in Weekly TF.
2- Downward Trendline has been broken.
3- We can see RD+ in RSI.
4- RSI has broken its downward trendline.
Thanks For Reading
Team Fortuna
-RC
Gbpaudshort
Australian currency correctionFX:GBPAUD
The correction that occurred in the Australian currency was caused by a decrease in the trade balance in that country, causing corrections in several Australian currency pairs such as, AUD/USD, GBP/AUD, EUR/AUD and so on.
Bearish potential still exists in the pair GBP/AUD
GBPAUD WeaklyHello friends | I only do simple analyzes with this phone If a small screen is displayed to you I'm sorry Well as shown in the analysis GBPAUD at 12% weekly timeframe Has almost fallen A 12% drop pattern is expected to continue to form in the weekly timeframe But according to the price pivot 1.7568 Have a pullback up and then the price will fall again 🔻 Thank you very much for your support 🌹 Only the analysis is personal and do not see the signal 🚫 Please support us in this direction to provide more analysis 🙌🌹❤
GBP/AUD - SellMonthly:
1. Impulse
2. Complex correction
3. Break of correction with new impulse
Now the price is make correction and is very possible to see 3rd touch of trendline.
If 3rd touch happend with nice bearish candle I will sell.
Weekly:
1. Last week the price close like Doji candle
2. Break of neckline without pullback for test
Expect a little down drop.
How to predict to where the price will drop?
Well if I add fibonacci from the high to the low where 38.20% Fibonacci level will align with the neckline I can understand. 0.00% Fibonacci level align perfectly with lower low in the past from where the price is jump to the upside.
Daily:
1. Impulse
2. Double bottom formation / not completed for now/
Double bottom formation is trend reversal pattern.
4H:
1. Impulse
2. Complex correction
3. Break of correction with new impulse
Now the price is make correction and is very possible to see 3rd touch of trendline.
If 3rd touch happend with nice bearish candle I will sell.
GBPAUDon the daily chart of GBPAUD, the market is indicating of strong bearish momentum and the major trend is down trend. Price is now on the monthly trend line, there might be a possible breakout at this point.
I'm still a learner of SMC and market structure, if you do have any ideas based on SMC or GBPAUD, do drop down a comment.