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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