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GBPAUD Retest Analysis - March 19th, 2020A friend said "I don't understand WHY it works like this and why some of my trades don't work. I don't know why price wants to retest some areas or form certain structures," in reference to why price moves the way that it does. I chose to do an analysis for him on GBPAUD because another member in our discord group had asked for management suggestions on their open trade. This was drawn up last Friday on March 19th, but you can still see how repeating a similar style into today's trading day could have helped create another entry. Obviously this doesn't explain why every pattern is developed in the way that it is or overall why price moves in the direction it does, this was just a helpful tip.
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by TonyAiello
1
GBPAUD Forecast!! Looking Great!!!PoundAussie PA has been moving down nice and corrective on the higher TF. There are a lot of equal highs and equal lows forming, these will get swiped with all the liquidity above and below them. I will be looking for continuation patterns on the lower TF. The easiest way to trade GA is to dissect it into stages to make it more visible to see the patterns, The same fractal patterns happen over and over again!! We could get some asian sweeps Monday and Tuesday.
by Jake-from-the-trading-Cartel
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GBPAUD approaching 1st resistance, potential for a reversal!Price is approaching our 1st resistance, in line with our 23.6% Fibonacci retracement and 78.6% Fibonacci extension. We could potentially see a reversal at 1st resistance, and a further drop towards our 1st support, in line with our 78.% Fibonacci retracement and 78.6% Fibonacci extension levels. It is worth noting that MACD is holding below the 0 line, indicating bearish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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by TradeGATEHub
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