GBPAUD short term shortBase on the 1-hour chart price action there we have a possible selling opportunity for intraday (day) traders. But the main scenario is looking for buying opportunities in the latest structure zone.
fundamental: ausi is extended its lockdown until September end & Sydney flooding with protestors.
Gbpaudforecast
GBPAUD Has Formed a Bullish Flag
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Hi Traders, GBPAUD on H4 has made a Bullish Flag, If the price gets out of the Flag below 1.8498 we can look for potential entries.
⬇️Sell now or Sell at 1.8665
⭕️SL @ 1.8756
✅TP1 @ 1.8498
✅TP2 @ 1.835
✅TP3 @ 1.8145
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GBPAUD downtrend continuation1.8560 is an area of resistance. We see that the market failed to break the level and create a new higher high. Instead we see convincing price action that can make the market move lower. My bias is bearish on this pair. Market can move towards 1.8490 level and if it breaks below that level market will continually fall lower until it breaks the downtrend market structure.
GBPAUD possible bullish target 1.8680#gbpaud, professionals increase 4% long by last week positions, 6k long increase by last week. Commercials decrease 1% long positions. weekly chart forming higher high and higher low. 1.828-30 highly demand zone for buy positions. split your risk with multiple position i.e 1.8280, 1.8230 even 1.8180 as well with stop loss 1.8140. target is 1.8680. this is weekly trade setup. trade with discipline and money management.
GBPAUD | Perspective for the new week | Follow-upWith over 200pips in our direction since my last publication (see link below for reference purposes), It appears we are at a juncture in the market that calls for another trading opportunity as the Bullish tendencies continue to build up from a Double Bottom structure.
The British Pound to Australian Dollar (GBP/AUD) benefited as the first quarter Australian inflation rate failed to pick up thereby suggesting that inflationary pressure has picked up within the Australian economy as the Aussie failed to take any particular encouragement from this data.
Tendency: Uptrend (Bullish)
Structure: Breakout | Supply & Demand | Channel | Reversal pattern
Observation: i. Since price action broke above Key level at the beginning of the year, the price has continued to thrive above this level most of the time.
ii. After I connected the lower highs and lower lows of price with parallel trendlines since late March 2021 to date, the price has been respecting a Channel that depicts a downward trend.
iii. Since finding bottom @ AU$1.77500, the appearance of a Double Bottom - a strong reversal pattern emphasizes a rally as the price continues to find Higher highs which culminated into what looks like a Channel Breakout (see chart) during last week trading session.
iv. As I remain patient for buying opportunity on this pair, my Key level @ AU$1.78700 shall remain a yardstick for a trading opportunity in the coming week(s).
Trading plan: BUY confirmation with a minimum potential profit of 250 pips.
Risk/Reward : 1:5
Potential Duration: 4 to 8days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
GBPAUD - Buy Entry - D1 ChartGBPAUD - Buy Entry - D1 Chart
Buy @ Current Market
Take Profit @ TP 1 or TP 2
Recommended Risk - Stop Loss @ 0.5% to 1% of your Account Balance
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🔺 DISCLAIMER
🔺 The content of this analysis is subject to change at any time without notice.
🔺 It is provided for the sole purpose of assisting traders to make independent investment decisions.
🔺 You must do your own research to create your own trading plan for the market.
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GBPAUD SHORTING OPPORTUNITYI am looking at GBPAUD in this coming week with the focus to take a shorting opportunity on the pair.
I am looking at the levels of 1.76855.
I am looking to trade this setup at market conditions, price and at the bell.
Let us see how things pan out in the coming days.
PSA: This is not trading advice. This is not a signal. This is my setup and any trader taking this trade from my setup is doing so at their own volution.
GBPAUD under seller controlThe pair although trading in a clear ascending channel, it has got rejected from the resistance level and moving towards the support trendline from the rising channel. Opening short opportunities.
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GBPAUD Forecast!! Looking Great!!!PoundAussie PA has been moving down nice and corrective on the higher TF. There are a lot of equal highs and equal lows forming, these will get swiped with all the liquidity above and below them. I will be looking for continuation patterns on the lower TF. The easiest way to trade GA is to dissect it into stages to make it more visible to see the patterns, The same fractal patterns happen over and over again!! We could get some asian sweeps Monday and Tuesday.