GBPAUD - Long the Support.GBPAUD - Short term - We look to Buy
Broken out of the wedge formation to the upside.
A bullish reverse Head and Shoulders has formed.
200-hour EMA is at 1.8000.
The RSI is trending higher.
A move through 1.8150 will confirm the bullish momentum.
Dip buying offers good risk/reward.
We look for gains to be extended today.
Further upside is expected although we prefer to set longs at our bespoke support levels at 1.8000, resulting in improved risk/reward.
Our profit targets will be 1.8118 and 1.8169
Resistance: 1.8080 / 1.8100 / 1.812
Support: 1.8050 / 1.8037 / 1.8000
Signal Centre
Gbp-aud
GBPAUD - SWING - 06. OCTO. 2020Welcome to our weekly trade setup ( GBPAUD )!
-
1 HOUR
Small bullish pullback, great short entries!
4 HOUR
Overall bearish market in pullback right now..
DAILY
Expecting prices to drop again and market to turnaround..
-
FOREX SWING
SELL GBPAUD
ENTRY LEVEL @ 1.81120
SL @ 1.82620
TP @ 1.78960
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
GBPAUD ready to go? 🦐GBPAUD on the daily chart creates a nice impulse before retracing back to the 0.382 fib level.
Price on the 4h chart is consolidating in a tight range between the daily support and a 4h structure.
IF the price will manage to break and close above the minor structure we can set a nice long order according to Plancton's strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
GBPAUD running +200 PIPS / 3% gain using our strategy tool ! OUR STRATEGY EXPLAINED:
The entry price, SL and multiple TPs are shown on the chart.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.
What is our strategy?
Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term.
The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc.
This could be on your phone trading view app, or laptop of course.
The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy...
What does this mean?
It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management.
The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow.
We just have to do what Percy does.
Please see our related ideas below for more information to explain what we do and how it can help you.
GBPAUD breakout failure opportunityGBPAUD failed to hold above the 1.816 level. With this breakout failure, we're getting a good indicating that the trend is changing. Current entry as price re-enters below this level offers good momentum to the downside.
Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple targets are different, ideas published are simply a resource to provide guidance. You are expected to manage your own trading decisions.
GBP/AUD Fakeout + Bullish Move Expected🔸 WEEKLY CHART EXPLANATION:
.
.
🔸Price broke the Ascending Trendline but it could not stay below.
.
🔸We consider that this pair has bullish potential towards the Resistance Zone in the long term.
.
🔸Before considering a bullish trade, we are waiting for a break of the previous lower high that can be better appreciated on a lower timeframe.
.
🔸 Will look for a lower timeframe bullish setup.
🔸 4H CHART ANALYSIS:
Possible Retracement Before ContinuationThis pair looks like it has a huge retracement due this week before continuing for the short. Retracement may end in the 1.79129 zone before the short continues. If not, we'll keep going up to the next zone above for a fresh to test the last lower high.
BULL TPs:
• 1.78192
• 1.79129
• 1.80512
BEAR TPS:
• 1.75881
• 1.75308
• 1.73815
• 1.72856
GBPAUD - DAY TRADE VIEW.GBPAUD - Looking bearish on hourly charts, Trading close to the resistance zone.
My approach is a short sell position at current price 1.81015
Maintain stop loss around 1.81460
Potential downside target 1.80400 - 1.79900
Follow the levels as mentioned.
Traders, if you liked this idea hit the like button & write in the comment section.
Why you should follow this tradingview account ?
Managed by top most renowned trader - Pulak Priyesh
10 + years of trading experience
Professional Day trader
Excellence award winning mentor
Professional chart, clear chart without junks.
Major S/R levels with inner insights
Frequent Day & Swing trade levels
All major and minor FX/INDICES covered
Thanks !!
GBPAUD testing a daily structure 🦐GBPAUD after a bounce on the weekly structure around 1.75250 started a retracement to the upside.
Price reached our previous target zone at 1.77800 and currently testing this area.
If the rice will close the daily candle above the structure we can set another long order according to PLancton's strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
$GBPAUD - Bearish flag trade setupHello guys!
Lockdown announcement will further affect the British Pound.
On September 22, prime minister Boris Johnson announced new national rules that could apply for the next six months or more. Do not panic, read the lockdown guidelines first, bars and pubs are still open until 10PM and deliveries are always open, so you will get your boose to watch APL. :)
Technicals:
GBPAUD has formed a bearish flag and most likely GBP will break the dynamic support and continue the bearish trend in the short-term.
Go short from this point and place SL above 1.79000 (risky as it might jump to test the dynamic resistance once again) or wait for a breakout and place a short order there. Up to you!
Channel falloutStrong weakness. Price falls out of channel with retest and breaks down the yearly floor (Camarilla L4) also with retest.
Considering the GBPAUD volatility we should see a significant drop through unchartered waters, most likely to yearly L5 (I didnt plot that).
This is no financial advise.
Top positive correlation 1 day
1 GBPAUD - GBPMXN 89.1%
2 GBPAUD - GBPCAD 84.6%
3 GBPAUD - GBPNZD 80.2%
4 GBPAUD - EURMXN 76.8%
5 GBPAUD - GBPCHF 73.9%
6 GBPAUD - GBPSGD 73.7%
7 GBPAUD - XBRUSD 73.7%
8 GBPAUD - XTIUSD 67.4%
GBPAUD can look for a retracement? GBPAUD on the 4h chart found support on a very strong weekly support.
Market bounce over it and start a range move between the support and 1.76600.
IF the price will break and close above the resistance area we can look for a long position till the 0.382 or 0.5 fib level of the previous leg.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.