Reading The Tape (ICT) Part 2 - 23th Sept 2024This is part 2 of a video, since TradingView does not allow recordings over an hour. Also the previous title had the date wrong, it is 23rd Sept, not 9th.
In this video I practice reading the tape using ICT Concepts, as well as offering general advice to those using his concepts or otherwise.
I hope that you find this video insightful. If you have any questions, leave a comment and I will be glad to answer.
- R2F
GBPAUD
GBPAUD Will Move Higher! Long!
Take a look at our analysis for GBPAUD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.950.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.962 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
GBPUAUD SELL TRADE IDEA SIGNALGBPAUD SHORT/SELL SETUP 23 SEP-27 SEP 24
1. DAILY & H4 TF IS GETTING BEARISH
2. UNABLE TO SUSTAIN HIGHER HIGHS
3. SONSOLIDATING NEAR PSYCH LEVEL OF 1.9500
4. Look for sell signal below 1.9500
Sell @1.9495/1.9490 SL- @1.9530 Target1-1.9370
Risk Reward of 1:3 OANDA:GBPAUD
Reading The Tape (ICT) Part 1 - 9th Sept 2024In this video I practice reading the tape using ICT Concepts, as well as offering general advice to those using his concepts or otherwise.
I hope that you find this video insightful. If you have any questions, leave a comment and I will be glad to answer.
- R2F
GBPAUD - Now We Wait!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈GBPAUD has been bearish trading within the falling channel.
Currently, GBPAUD is approaching the lower bound of the channel.
Moreover, the zone marked in green is a strong demand.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the support zone and lower trendline acting as non-horizontal support.
📚 As per my trading style:
As #GBPAUD approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GBPAUD - 4hrs ( Sell Trade Target Range 200 PIP ) 🟢Pair Name : GBP/AUD
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
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spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons
We seek to spread understanding rather than make money
🟢Key Technical / Direction ( Short )
Type : Mid Term Swing
———————————
✅Bearish Break
1.94500 Area
Reasons
✅- Major Turn level
✅- Visible Range Hvn
✅- Fixed range poc
✅- Head & Shoulder Break
✅- Quarter High Break
✅- Day / week low
✅Bullish Reversal : 1.93400 : 1.92500 Area
Heading into 61.8% Fibonacci resistance?GBP/AUD is rising towards the resistance level which is an overlap resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.96072
Why we like it:
There is an overlap resistance level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 1.96958
Why we like it:
There is a pullback resistance level.
Take profit: 1.94267
Why we like it:
There is a pullback support level that is slightly above the 78.6% Fibonacci retracement.
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#GBPAUD: Big Move Worth +619 Pips in Making? Price have changed the characteristics and we also have witnessed that these characteristics will ultimately take the price to an another higher high resulting in us gaining a clear +619 pips move. You can use this chart for educational or bias purposes only. this is not a guaranteed price move by any means.
#GBPAUD 4HGBP/AUD 4H Analysis: Sell Opportunity
Pattern Overview:
The GBP/AUD currency pair is currently exhibiting a clear downtrend on the 4-hour chart. This downtrend is characterized by a series of lower highs and lower lows, indicating sustained bearish momentum.
Technical Indicators:
Trend Analysis: The overall trend is downward, with recent price action consistently making lower peaks and troughs.
Support and Resistance: Key resistance levels are holding firm, while support levels have been broken, reinforcing the bearish outlook.
Moving Averages: Short-term moving averages are positioned below longer-term moving averages, confirming the downtrend.
Sell Opportunity:
Given the established downtrend, the market conditions suggest a strong sell opportunity. Traders should look for confirmation signals such as:
Breakout Points: A break below recent support levels can offer additional confirmation.
Momentum Indicators: Indicators like the RSI or MACD showing bearish signals can strengthen the sell thesis.
Forecast:
Based on the current analysis, the forecast leans towards further declines in the GBP/AUD pair. Traders should consider entering sell positions with appropriate risk management strategies, including stop-loss orders to mitigate potential reversals.
Summary:
The 4-hour chart for GBP/AUD suggests a continuation of the downtrend. With a pattern of lower highs and lows, and resistance holding firm, there is a compelling sell opportunity. Monitor for confirmation signals to optimize entry points and manage risk effectively.
GBPAUD long- Price on the 3 month timeframe is very bullish as there are consecutive higher highs.
- Price on the monthly is bullish as well since August's month candlestick broke above a high.
- With this in mind, we know that price is just collecting orders before we see a move upwards.
- My monthly targets would be at 2.0365
- Two weeks ago, the week's candlestick broke above the body closure of the previous major region at 1.9655. However, we can tell that orders were not enough to take price higher. That is why last week's candlestick ended up bearish.
- This tells me that price is simply collecting orders for a bullish move.
- On the daily, two things happened.
- First, price broke above a major liquidity region at 1.9590. After breaking the region, price never tested that level before going upwards. What this tells me is that wanted to go higher but was unable and hence, it went to the 1.9500 psychological level.
- We see that price took orders from the 1.9500 psychological as is evidence from the three pin pattern and double bottom on the 4 hour timeframe. If price breaks above yesterday's high at 1.9605, the next targets would be at 1.9635. The 4 hour target would be at 1.9620.
- As of now, I sit on my hands as I wait for price to head upwards
GBP/AUD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
GBP/AUD is making a bullish rebound on the 1D TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 1.922 level.
✅LIKE AND COMMENT MY IDEAS✅
GBPAUD - Look for Continuation Long (SWING) 1:4!The price is showing a strong bullish trend with a clear HH and HL structure, currently retesting the HTF trendline before potentially continuing to the next Supply Zone. With a RBR pattern serving as confirmation, the next Demand Zone holds high potential for the price to take the order block and continue moving upwards.
Let's see if the price can reach the target profit levels!
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
GBPAUD 4H Chart Analysis – Targeting Bullish MomentumWe’re looking at the GBPAUD 4H chart, where a fresh BUY signal has been triggered, signaling potential upside movement.
Key Observations:
- BUY Signal: A BUY signal was generated at 1.95551, suggesting a potential reversal and an opportunity for a bullish move.
- TP Zone: The identified Take Profit (TP) zone ranges from 1.96055 to 1.96544, offering a potential gain of around 50 to 100 pips from the entry point, making this setup an attractive target.
- Market Structure: Price action is currently holding above key support levels, and the market structure indicates a weakening of the bearish trend, favoring a possible move towards the TP zone.
Trading Plan:
- Bullish Scenario: If the price continues its upward momentum as expected, aiming for the TP zone between 1.96055 and 1.96544 could present a solid return. Watch for additional confirmations as the price moves closer to these levels.
- Risk Management: Adjust positions and strategies as new signals develop, allowing for flexibility to respond to market fluctuations. Keep monitoring the price action and adapt your exit points accordingly.
Important Note: This is a trade idea. Make sure to perform your own analysis to ensure it fits your risk tolerance and strategy.
Stay alert and trade smart!
GBPAUD longHere is why:
- On the 3 month timeframe, price has formed mini higher highs indicating that price is headed upwards. My targets for this timeframe are 2.03700
- On the daily, if you zoom in on yesterday's candlestick, you can see that price broke a high. Moreover, 1.9650 is a very strong liquidity area. Price attempted to break that area but was unable. We see that Monday's candle collected some orders to push higher but they were not enough to take the pair further. Hence, why we see this sudden rush of bearish momentum.
- Price is currently looking for areas to collect orders from and I spectate that it will do that at the 1.9450 region (which is a weekly level and a major 4 hour liquidity level)
- I am sitting on my hands as I wait for a bullish setup before I enter the markets