GBPAUD Long Analysis 26/01/2025
I paid attention to GBPAUD on a HTF, it looked a bit choppy before but now it looks good.
Price went down to a perfect 1D demand area and started moving up and created a CHOCH.
Now that there is a change of character, I would look for an entry at the breaker block sitting at the 0.382 fib level I drew out on a smaller timeframe. I would only take entry based on how price reacts on that area on a LTF such as the 1-5m TF.
TP would be at the supply area I drew at the HTF 0.382 level I used the 1D chart for. Price might continue going up to where imbalance remains but I'd look for the right re-entry if I look for another trade.
Price went down to a perfect 1D demand area and started moving up and created a CHOCH.
Now that there is a change of character, I would look for an entry at the breaker block sitting at the 0.382 fib level I drew out on a smaller timeframe. I would only take entry based on how price reacts on that area on a LTF such as the 1-5m TF.
TP would be at the supply area I drew at the HTF 0.382 level I used the 1D chart for. Price might continue going up to where imbalance remains but I'd look for the right re-entry if I look for another trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.