GBPAUD approaching support, potential for a bounce!
GBPAUD is expected to drop to 1st support at 1.78660 where it could potentially react off and up to 1st resistance at 1.79530.
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15 Min
This time Frame is supporting a bullish outlook. Price above all MA's with RSI still facing up. MACD is now showing a bearish divergence. Expecting Move down soon
1 HOUR
Buys still in the Market so be careful MACD & STOCh Rsi both showing bearish divergence.
4 HOUR
Bearish. Price is making a correction of earlier bearish move. Price now testing the 38.2 % fib retracement point. Price is also below all MA's with price about to test the 100 WMA.
OVERALL
Bearish Outlook expecting the bearish momentum to continue
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Its Friday... Lets get blind DRUNKI am off out tonight to celebrate an amazing week trading and yes i am going to have 1 or 2 beers after all you have to let your hair down sometimes ( although this is hard for me as i have no hair ) haha.
Area of interest is highlighted, we are favoring bullish movement from this area, fundamental news today has pushed price down but technical analysis will push it back up again and we think this will happen in our support zone.
Trade carefully today though as it is Friday and the markets can be unpredictable, also we dont like leaving trades open over the weekend unless they are swing trades that are deep in profit because events over the weekend can cause market gaps, and if that happens price can jump over your stop loss and wipe your account.
GBPAUD approaching resistance, look out for potential reversal!GBPAUD is approaching its resistance at 1.84081 where it is could reverse down to its support at 1.82449.
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GBPAUD POTENTIAL SHORT Price is currently showing bearish potential. We saw price move bullish into what i would see as a pullback and we are currently at a point of resistance where we may see price break lower toward the our take profit level.
STOP LOSS - RED LINE
TAKE PROFIT - RED LINE
Risk exposure - 1%
RR - 1:2.5
Hit that follow button !
Aussie Strength Waning? - Ichimoku GBP/AUD Long Trade SetupAfter a long down trend, the pound finally found some footing. We are entering the kumo and I am watching for the possibility of a new bullish trend to form as the GBP tries to claw it's way back. As the week progresses I'll be watching for a bullish kumo breakout and completion of the kumo twist to bullish to help confirm it's time for an entry. I've set my entry at a flat spot on the kumo which should act as a good gauge if we'll make the move up or not. If we can close through that level we should try and climb quite a bit higher. If we fail to break through the kumo or hold price structure support, this setup may become invalidated.
GBPAUD LONGDouble Bottom - Weekly Ranging buy
Breakout of H1 Trendline and a quick retest.
Might have waited for a few hours for a better retest, but the psychological angst of missing a good trade kicked in. Now I am in the trade with a wide stoploss, because this pair WILL kick you out of a poorly executed trade.
REASON FOR ENTRY: The hourly quick retest candlestick was a bullish pinbar.
MESSY ANALYSIS:
This was my previous successful sell's analysis that I want to keep on my chart. Let's hope for the best.
TP could also go all the way up to form a triple top!
WIFE or FANCY WOMAN?Similar trade setup to my last post, We have a strong TL formed that keeps getting respected and price is at a key level.
So again this is another really good trade to keep your eye on to see if price breaks either our TL or respects it and breaks strong support, a break of either should produce explosive bullish or bearish movement.
This trade is like having a wife ( TL ) and a fancy woman ( Support ) on the side... you want to go with the TL ( wife ) as she has stood by you and respected you for along time but the support level looks tasty and you cant help but let your mind stray ;p
Always trade with caution and correct risk management.