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Australian Dollar/British Pound

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AUDGBP trade ideas

Lingrid | GBPAUD long from the SUPPORTFX:GBPAUD is currently moving sideways following the pullback from the resistance zone, which has resulted in a complex pullback formation. The price has shown respect for the upward trendline, and I believe it may rise to test resistance if it pulls back to the support zone. I'm looking for a pullback opportunity, and I expect to enter a long position from there. My goal is to resistance 1.97430 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
5
GBPAUD: Focus Shifts To BOE - Bearish Harmonic PatternGBPAUD: Focus Shifts To BOE - Bearish Harmonic Pattern Tomorrow the Bank of England will announce Its Monetary Policy statement and Interest Rate decision. The market is widely anticipating a possible rate cut from to 5% vs 5.25% actual rate. The market is expecting BOE to cut rates by 25 basis points. If that happens we may see GBP getting weaker. Technical Analysis: Price completed a daily harmonic pattern near an old zone thus raising the chances for a bearish movement. However, the AUD is still weak, we may see the GBPAUD reverse direction over the next few days. The next move is all about BOE rate decision. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Short
by KlejdiCuni
13
GBP/AUD Analysis and Sell Trade Review### GBP/AUD Analysis and Sell Trade Review #### Market Context: 1. **Swing High Taken Out**: The market has made a new high, indicating potential liquidity grabs where traders' stop-loss orders above the previous highs might have been targeted and executed. This can often lead to a reversal or a significant pullback as the liquidity above the swing high is consumed. 2. **Fair Value Gap (FVG) Created**: An FVG typically represents a price imbalance where the market moved too quickly, leaving behind a gap in the order flow. This gap can serve as a potential resistance area where price might reverse or consolidate before continuing its previous trend. 3. **Change in Status Delivery**: This term suggests a shift in market dynamics, possibly indicating a change from bullish to bearish sentiment. This change might be confirmed by a break in market structure, such as lower highs and lower lows forming after the swing high is taken out. #### Sell Trade Setup: Given these conditions, here is a structured approach to a sell trade: 1. **Entry Point**: - After the swing high is taken out, wait for price to enter and react from the FVG. Look for bearish reversal patterns or confirmation signals, such as bearish candlestick formations (e.g., pin bar, engulfing pattern) or a break below a key support level within the FVG. 2. **Stop Loss**: - Place the stop loss above the recent swing high or above the upper boundary of the FVG. This helps protect against false breakouts or continued bullish momentum. 3. **Target Levels**: - The first target could be the nearest significant support level or the low of the previous consolidation range. - Further targets can be set at key Fibonacci retracement levels or prior swing lows, where price might find support. #### Trade Management: - **Risk Management**: Ensure proper risk-to-reward ratio, ideally aiming for at least 1:2 or 1:3. - **Trailing Stop**: As the trade moves in your favor, consider trailing the stop loss to lock in profits and minimize potential losses. - **Monitoring News and Events**: Keep an eye on economic news and events that might impact GBP/AUD, as they can cause sudden market volatility. #### Example Scenario: - **Entry**: After price takes out the swing high and enters the FVG, a bearish engulfing candle forms, indicating a potential reversal. Enter a sell position at the close of this candle. - **Stop Loss**: Set the stop loss above the swing high. - **Take Profit**: Set the first target at the previous swing low, and additional targets at further support levels or Fibonacci retracement zones. By following this structured approach, you can manage your GBP/AUD sell trade effectively, aligning with the observed market conditions and technical analysis.
Short
by Asif_Brain_Waves