GBP_AUD LONG FROM SUPPORT|
✅GBP_AUD has retested a key support level
And as the pair is already making a bullish rebound
A move up to retest the supply level above is likely
LONG🚀
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GBPAUD trade ideas
GBPAUD Potential DownsidesHey Traders, in today's trading session we are monitoring GBPAUD for a selling opportunity around 1.96250 zone, GBPAUD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.96250 support and resistance area.
Trade safe, Joe.
GBPAUDOANDA:GBPAUD After the price reaches the specified level,
if you see the Bearish hammer candle in the one-hour ( SHORT POSITION),
and if the desired level is broken, after the pullback buy.
Consider your risk management before entering a trade.
This analysis is for informational purposes only and does not constitute investment advice.
All consequences of using this signal are at your own risk.
GBPAUD 4H TF Bearish (Divergence, Break of Trendline, DOW)GBPAUD shows a bearish/short momentum at 4H TF supported by bearish divergence, DOW Break of Structure (BOS) and break of rising trendline. Entry is taken at 15 pips below previous HL with SL at 15 pips above and TP at 1:1 R:R.
What do you think, will it work?
GBPAUDDue to the high -level settlement formed, the probability of lowering prices and reaching the intended darkness is high
GBP BULLISH OR BEARISH FOR OFFICIAL BANK RATE?What you all predict on GBP for Official Bank Rate?
1. Maintain Rate
2. Cut Rate
3. Increase Rate
AND
What market will do on GBP?
1. Bullish
2. Bearish
MY PREDICTION GBP WILL BE CUT RATE AND BEARISH MARKET MOVEMENT
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
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❤️
No BOS, No TradeAs we didn't get a BOS as stated in the previous Idea, we dont have a buy. We will wat for a new reaction within the OB and if it breaks, I'd just watch for more reactions at key points, will keep everyone posted(just me I know).
FX:GBPAUD
GBPAUD We are expecting sellers on GBPAUD. The market has already created and double top as the confirmation of a downtrend.
GBPAUD-ShortGBPAUD was trading in bullish trend now forming RSI divergence at the resistance so we will take a short trade at the break of HL
Short on GBPAUDPotential fall, going to break the rising wedge and RSI divergence at the same time, can expect a fall
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.
GA Buys Continuation FX:GBPAUD keeps creating new highs, only makes sense to follow the trend. After creating a new high, we are seeing a reaction at the order block level. Looking for choch/bos on 15m TF then set buys at the OB on 15m that created the high that created a choch/bos.
FINALLY A BREAKOUT ON GBPAUD LOOKING AT A STRONG LONGTERM BUYThis currency pair has been on my watch list, it has been consolidating for quite some years looking triangle formation on the monthly time frame and has not been making any meaningful moves. But that just changed in past couple of days.
It finally broke out of the triangle which is in the 2nd wave of the higher degree in the monthly time frame , meaning we are now looking at the most anticipated, a 3rd wave of the higher degree, which just began by the way.
NB: NEVER TRADE AGAINST THE TREND. So in the lower time frame it has completed five waves and began a retracement wave ABC, its now completed wave A, we are looking at a wave B forming then we should expect a sharp decline of wave c, hopefully at the 0.382 Fib level then a continuation of the buy after a double bottom formation. Buy entries should be expected at the beginning of the dip(at the apex) and should be held up to 2.20571 level. Happy trading Mates.
Over+750 pip in GBP/AUD in our last call(07/31/2024)in our last analysis
We were expecting a big rally for GBP/AUD. Since then the price moved in our favor and made over +750 pip for us.
Despite weaker CPI data for AUD, we are now looking for a correction in the 1.98 zone.
Our technical view has been shown in the chart.
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Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
SELLING GBP/AUD from 1.9771Last Thursday's daily candle on GBP/USD (25th July) closed with a nice long tailed pinbar.
Becuase of this and becuase the RSI on D1 closed at 83.42 , I've been keeping my on this pair in anticipation of a move south.
The next 4 daily candles were all doji indecision candles and with the RSI moving to 79.45, then GBP/AUD looked ready for a move south.
However.
Its imperative that if you have a trade planned and you intend to hold the trade overnight then you MUST check for news.
This morning at 02:00 UK time, the CPI numbers were released and though the CPI q/q and CPI y/y met target, the Trimmed Mean CPI missed coming in 0.8% against 1.0% expected.
This was sufficient for the AUD to sell off aggresively and GBP/AUD was sent 151 pips higher.
A look on the H4 time frame and you can see that the previous 2 H4 candles form a pincer/double op and the current H4 candle is BEARISH.
This looks a good opportunity for SHORT trades.
The ANdean Oscillator on H4 is rising from zero as the green BUY line crosses the signal line.
These are BEARISH signs.
RSI is declining.
MACD has yet to catch up on H4 but on M30 the fast MA has crossed the slow MA and on H1 the 2 MA's are moving together and edging south.
All the signs are that this pair is moving lower and with AUD/USD turning BULLISH then I think this trade has a good chance.
Target is open but the band of support at 1.9620 area looks a potential target although tomorrow BOE Monetary Policy and MPC Bank Rate makes all technical analysis redundant.
Long trade
Sunday, 28th July 2024
Buyside Trade observation.?
Tokyo Session
4Ht TF Entry
Entry: 1.95380
Profit Level: 1.98109 (1.40%)
Stop Level: 1.95068 (0.16%)
Risk/Reward Ratio: 8.75
GA SELL completing C waveI see the market has finished the B WAVE of the corrective move during the Asian session, and now the market is transitioning to the DOWNWARD move of the third wave, I believe we can look for sells during the remainder of the week, keep an eye out for the pullbacks and news.
Swing short on GBPAUDEntry: 1.9777
TP1: 1.93
TP2: 1.892
SL: 2.00
Approaching yearly resistance level, RSI is well overbought on the daily chart
SWING TRADE . GBPAUDThere could be a continuation to hit 98500 upward. since AUD INDEX is weak , this could be achieved.
GBPAUD - 4hrs ( Buy Trade Target Range 240 PIP ) ✔️Pair Name : GBP/AUD
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
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Key Technical / Direction ( Long )
Type : Mid Term Swing
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✔️Bullish Break
1.94000 Area
Reasons
- Choch Zone
- Pattern Break
- Fixed Range lvn
- Visible Range lvn
- Fibo Golden
- Day / week high
✔️Bearish Reversal
1.96400 Area
Reasons
- Major Turn level / D
- Pattern Target
- Visible Range Hvn
- Choch Area
- Fixed Range Hvn
- Quarters Area
GA BUY to complete B waveUsing the Asian range and market structure (Elliot wave) I can see that GA is beginning to move up after completing its 2nd wave in the B wave down, it is time for it to complete its wave to the upside.
