This is my detailed multi-timeframe analysis for GBPAUD, based on the prevailing market structure, key liquidity zones, and candlestick behaviour.
Quarterly Timeframe:
On the three-month timeframe, price recently reached a significant liquidity region around 2.1600. From this level, the market has attracted substantial bearish orders, as evidenced by the recent quarterly candlestick, which closed relatively bearish. This suggests that bullish momentum has weakened considerably at these highs. Consequently, I expect that additional bearish orders may continue to enter the market, leading to a moderate retracement in the coming quarters.
Monthly Timeframe:
On the monthly chart, while price rejected the major liquidity region at 2.1600, the subsequent monthly candles have shown some signs of bullish intent, as indicated by wicks forming higher highs and higher lows. However, the candlestick bodies reveal an overall lack of follow-through, implying indecision in the market.
June’s monthly candle closed relatively bearish and indecisive, which may suggest that price is currently accumulating orders to fuel its next significant move. My current intuition leans towards a potential continuation higher, provided that price action confirms this bias. Notably, June’s candle could be interpreted as a potential order block, suggesting the possibility of price filling orders for a bullish move.
Nevertheless, the presence of a textbook ‘W’ formation must be acknowledged. The bearish close in June may imply a retest of the neckline around the 2.0300 level. Should bearish confirmations appear, this scenario could unfold in the medium term.
Weekly Timeframe:
The weekly timeframe indicates that price has been consolidating for the past five weeks. This choppy, indecisive price action makes the structure more challenging to interpret with conviction. The base of this consolidation zone sits around 2.0825; a clear weekly close below this level could present a case for bearish continuation, contingent on supporting confluences. At present, my bias on the weekly timeframe remains neutral given the lack of a clear directional signal.
Daily Timeframe:
On the daily chart, the market showed notable bearish activity in the previous session, closing below the key 2.0880 region. The next significant liquidity area to watch lies around 2.0700. My short-term bias for the day is bearish, and I anticipate that price may move towards this region. However, I do not regard this as a high-probability setup, so caution is warranted.
4-Hour Timeframe:
The 4-hour timeframe offers little additional clarity beyond the observation that price absorbed considerable bearish orders around the 2.0950 level. If price closes above the 2.0838 level, I will consider a short-term long position targeting the daily liquidity region at 2.0880. Overall, my stance on the 4-hour chart is largely neutral until more decisive price action emerges.
Disclaimer:
This analysis is intended for informational and educational purposes only. It does not constitute financial advice. Please conduct your own research and apply sound risk management before entering any trades.
Quarterly Timeframe:
On the three-month timeframe, price recently reached a significant liquidity region around 2.1600. From this level, the market has attracted substantial bearish orders, as evidenced by the recent quarterly candlestick, which closed relatively bearish. This suggests that bullish momentum has weakened considerably at these highs. Consequently, I expect that additional bearish orders may continue to enter the market, leading to a moderate retracement in the coming quarters.
Monthly Timeframe:
On the monthly chart, while price rejected the major liquidity region at 2.1600, the subsequent monthly candles have shown some signs of bullish intent, as indicated by wicks forming higher highs and higher lows. However, the candlestick bodies reveal an overall lack of follow-through, implying indecision in the market.
June’s monthly candle closed relatively bearish and indecisive, which may suggest that price is currently accumulating orders to fuel its next significant move. My current intuition leans towards a potential continuation higher, provided that price action confirms this bias. Notably, June’s candle could be interpreted as a potential order block, suggesting the possibility of price filling orders for a bullish move.
Nevertheless, the presence of a textbook ‘W’ formation must be acknowledged. The bearish close in June may imply a retest of the neckline around the 2.0300 level. Should bearish confirmations appear, this scenario could unfold in the medium term.
Weekly Timeframe:
The weekly timeframe indicates that price has been consolidating for the past five weeks. This choppy, indecisive price action makes the structure more challenging to interpret with conviction. The base of this consolidation zone sits around 2.0825; a clear weekly close below this level could present a case for bearish continuation, contingent on supporting confluences. At present, my bias on the weekly timeframe remains neutral given the lack of a clear directional signal.
Daily Timeframe:
On the daily chart, the market showed notable bearish activity in the previous session, closing below the key 2.0880 region. The next significant liquidity area to watch lies around 2.0700. My short-term bias for the day is bearish, and I anticipate that price may move towards this region. However, I do not regard this as a high-probability setup, so caution is warranted.
4-Hour Timeframe:
The 4-hour timeframe offers little additional clarity beyond the observation that price absorbed considerable bearish orders around the 2.0950 level. If price closes above the 2.0838 level, I will consider a short-term long position targeting the daily liquidity region at 2.0880. Overall, my stance on the 4-hour chart is largely neutral until more decisive price action emerges.
Disclaimer:
This analysis is intended for informational and educational purposes only. It does not constitute financial advice. Please conduct your own research and apply sound risk management before entering any trades.
Trade active
I am now long on the pair as it closed above the previous intraday high at 2.0836. The next target is at 2.0863.If the current 4h candlestick closes bearish, then I will have an entry in the NY session.
This is a really high probability setup
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.
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.