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Gbpaudlong

GBPAUD, daily tf, double bottom setupHello my friends, It has been long since my last trade ideas. I haven't found a satisfying setup to trade yet that's why i don't post anything in the last few weeks. Today i finally found a good setup to trade which is GBPAUD pairs. As you can see price making a possible double bottom pattern and price already broken above the neckline. At the same time, GBPAUD broken above the descending trendline which has served as resistance since October 2020. The measured objective of double bottom is around 500 pips. Don't expect price to reach our take profit in a quick way. It gonna be a bumpy ride to the upside as well because there is horizontal resistance level on the way up. Buy GBPAUD 1.7820 Stop loss 1.7700 Take profit 1.8240 (4.2R)
Long
by HayatoDragonFX
6
GBP/AUD Making Correction, Long Opportunity ComingThis has been due a correction and it is now doing so. This brings the chance to look for a longing position. It is close to 0.382 Fibonacci, just below this could be a good time to buy as it aligns with structure. Need to watch the price action as it could fall to 0.5 Fib as well. Use MACD and EMA's to help judge when the mood is changing back to bullish. Target is set at the previous high of 1.80159. This aligns with previous support so it is meeting resistance here. SL is just below 0.5 Fib
Long
by olly48
GBP/AUD LongAs we can all see, price is currently on a very clear bullish trend. Due to it's constant bullish momentum price has created a trend line which has been hit and rejected three times in these past couple of days. Currently, price is respecting the trend line once again while also creating a very clear morning star (bullish signal) which is one out of the three confirmations that we need before entering a trade. Moreover now that we are trading in the 1h chart we need to look at the 15m MA (moving average) crossover which in this case it is 1 pip away from happening. In conclusion, all these signals 1. rejection of the trend line, 2. creation of the morning star and 3. the 15m MA crossover give us very strong probabilities for a move to the upside with our target for this trade being the 1.80000 resistance area. This was my analysis on GBP/AUD and I hope you like it, see you on the next one!
Long
by Andralex_11
GBPAUD facing bullish pressure, potential for further upside!Price continues to hold above the ascending trendline support and Ichimoku cloud, showing bullish pressure in line with our bullish bias. We could potentially see a bounce at our ascending trendline support and 1st support at 1.79300, in line with our 61.8% Fibonacci retracement and 78.6% Fibonacci extension, and a further push up towards our 1st resistance level at 1.80156, in line with our 50% Fibonacci extension and horizontal swing high resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by TradeGATEHub