GBPAUD Price Outlook: Anticipating a Bearish Retracement
Anticipating a Price Drop in GBPAUD
I expect the price to decline from this level as part of a retracement into the discount zone, potentially setting up for a bullish continuation on the higher time frame, which remains bullish.
Analyzing the chart using a market structure approach, I anticipate a downward move from this level, and my stop-loss is clearly defined.
At this price level, there appears to be resistance and buy-side liquidity, which I expect to trigger a liquidity raid, driving the price lower.
I haven't set a specific take-profit level but personally aim for a 1:3 risk-to-reward ratio.
Here's my projected outlook for GBPAUD as of December 31, 2024.
Thank you!
I expect the price to decline from this level as part of a retracement into the discount zone, potentially setting up for a bullish continuation on the higher time frame, which remains bullish.
Analyzing the chart using a market structure approach, I anticipate a downward move from this level, and my stop-loss is clearly defined.
At this price level, there appears to be resistance and buy-side liquidity, which I expect to trigger a liquidity raid, driving the price lower.
I haven't set a specific take-profit level but personally aim for a 1:3 risk-to-reward ratio.
Here's my projected outlook for GBPAUD as of December 31, 2024.
Thank you!
Note
Price playing around our Entry level. Not a satisfying price action. But i'm still holding. Note
Price reacted nicely to the call. I have taken Partial on this trade already , Breakeven and Risk free.Trade closed: target reached
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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.