Gbpaudsell
GBPAUD SELLGA looking like a nice sell setup, if you're not in this already look for retest of the purple box area, and rejection on the 15 min time frame. Looking like a nice opportunity to sell around this area due to the fact it is rejecting the fib levels we look out for as well descending trend line and rejection of the EMA.
Take partial profits at the given levels.
200 pip gain 4/1 RR
GBPAUD approaching support, potential for a bounce!
GBPAUD is expected to drop to 1st support at 1.91640 where it could potentially react off and up to 1st resistance at 1.94198.
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Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBPAUD BEARISH TRADE IDEA UPDATEI projected a double zigzag In my previous analysis due to the nature of wave (a) of the correction. Fortunately, the confirmation level was not triggered and the market rally higher to complete a five-wave cycle in wave (c). The five-wave suggests that the whole correction is a simple zigzag pattern.
Price has made a deep correction that terminated at 78.6 Fib and the wave (c) also equal (a) within the blue zone. Price is expected to resume the bearish sell-off in wave 3 from or near this level while the invalidation zone remains intact.
Once the price breach the confirmation level, the invalidation level will be high at 78.6 Fib area.
What's your thought on GBPAUD?
GBP/AUD Counter-Trend Move GBP/AUD pair is likely to surge up on a larger time scale, however; we see a chance that a short-term move down might be in the books. As this is counter-trend (plus short term), we use tighter stop than usual.
Entry: 1.916
Stop: 1.922
Target: 1.906
Have a nice week! Follow for more!
GBPAUD Bearish Elliot Wave Trade SetupAfter topping out last December. Price seems to be making a series of lower highs labeled 1-2, (i) - (ii). Price is expected to resume the downtrend from or near the current level. The breach of the green line or a break out of the flag channel will confirm the bearish trend is still intact.