[GBPAUD] 8 Jan, 2021 - Roger V Trading Ideas
GBPAUD [Buy/ Long]
Entry Support level idea:
1.743000 Support
TP Resistance level idea:
Target 1: 1.77000
Ideal Target 2: 1.868500 (This will update over time if any change.)
Final SL for all Long positions:
1.739000 Support Level
GBPAUD Trading idea comment:
Over a long period of time for GBPAUD, it has been going in a bearish trend since April 2020. Finally, it is showing signals in the daily chart of two bullish candlesticks like the GBPJPY (Can be found in the image below) that was written on the 8th of Jan 2021 Roger V Trading Ideas (Press here to read the idea of GBPJPY)
The weekly and monthly time frame actually does not meet Roger V strategy requirement.
However, if daily chart is able to further consolidate in the current status long enough to affect the later weekly chart, and then so on to monthly.
The potential success rate in trading long position and entering near the entry level on GBPAUD will be more in favoured.
Worst Case Scenario:
Two options:
1. Can wait or ask Roger V on Roger V Diamond Club, to see if the trend is actually true breakout or false break.
a. If true breakout - try to find a lower loss to stop loss.
b. If false breakout - hold it, and carefully look at the weakening signal from M15 to H4. (Same method as looking at the weakening signal candlestick combination taught in group.)
2. Can stop loss straight away at the final SL, if the loss amount has gone over your expectation. (This is to be known before you make any orders.)
Best Case Scenario:
Trend does not breakout final SL of 1.739000 support level.
After a successful consolidation here at 1.743000, rebounded back and break Target 1 of 1.77000, and does not show any potential rebound for a retracement back down again, and goes straight or near to 1.86850.
Last statement with GBPAUD idea:
Don’t forget that Roger V Trading Strategy, works on the longest time frame and descends to the lowest time frame.
It is also alright for those that are wanting to trade a roughly of 10 ~ 60 pips to follow all ideas by Roger V Trading.
Just make sure the direction trades are only made in one direction of the trading idea.
Unless it breaks the final SL, then all long position for GBPAUD must cease and consider the trading idea was incorrect, and default reverse the direction of the original trading idea direction in idea point of view.
(Note: The forecast above is an estimation of the resistance/ support level for the entry, TP, and SL. For more precise positions will depend on the shape formed with the candlestick at the time.)
--------------------
How to get closer with market updates?
Where to find Roger V?
FB/ Google: Search Roger V Trading Academy
--------------------
Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at your own risk.
Entry Support level idea:
1.743000 Support
TP Resistance level idea:
Target 1: 1.77000
Ideal Target 2: 1.868500 (This will update over time if any change.)
Final SL for all Long positions:
1.739000 Support Level
GBPAUD Trading idea comment:
Over a long period of time for GBPAUD, it has been going in a bearish trend since April 2020. Finally, it is showing signals in the daily chart of two bullish candlesticks like the GBPJPY (Can be found in the image below) that was written on the 8th of Jan 2021 Roger V Trading Ideas (Press here to read the idea of GBPJPY)
The weekly and monthly time frame actually does not meet Roger V strategy requirement.
However, if daily chart is able to further consolidate in the current status long enough to affect the later weekly chart, and then so on to monthly.
The potential success rate in trading long position and entering near the entry level on GBPAUD will be more in favoured.
Worst Case Scenario:
Two options:
1. Can wait or ask Roger V on Roger V Diamond Club, to see if the trend is actually true breakout or false break.
a. If true breakout - try to find a lower loss to stop loss.
b. If false breakout - hold it, and carefully look at the weakening signal from M15 to H4. (Same method as looking at the weakening signal candlestick combination taught in group.)
2. Can stop loss straight away at the final SL, if the loss amount has gone over your expectation. (This is to be known before you make any orders.)
Best Case Scenario:
Trend does not breakout final SL of 1.739000 support level.
After a successful consolidation here at 1.743000, rebounded back and break Target 1 of 1.77000, and does not show any potential rebound for a retracement back down again, and goes straight or near to 1.86850.
Last statement with GBPAUD idea:
Don’t forget that Roger V Trading Strategy, works on the longest time frame and descends to the lowest time frame.
It is also alright for those that are wanting to trade a roughly of 10 ~ 60 pips to follow all ideas by Roger V Trading.
Just make sure the direction trades are only made in one direction of the trading idea.
Unless it breaks the final SL, then all long position for GBPAUD must cease and consider the trading idea was incorrect, and default reverse the direction of the original trading idea direction in idea point of view.
(Note: The forecast above is an estimation of the resistance/ support level for the entry, TP, and SL. For more precise positions will depend on the shape formed with the candlestick at the time.)
--------------------
How to get closer with market updates?
Where to find Roger V?
FB/ Google: Search Roger V Trading Academy
--------------------
Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at your own risk.
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.