GBP/AUD Buy IdeaBuying GBP/AUD. The chart shows it has recently formed a beautiful X Butterfly on 8 hour chart. Would draw it out but TradingView doesn't support 8 hour charts yet...
Closed bullish above 1 hr trend line.
Stop Loss: 1.96400
1st Target: 1.98610
2nd Target: 1.99454
3rd Target: 2.00282
Please adjust stop loss and take profit accordingly to fit your style of trading. Let's ride this wave!
Happy Trading everyone! 😎
GBPAUD trade ideas
GBPAUD - Long SetupMy main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels.
In particular case we clearly can see the following context: price swept 1D key swing low and left untouched swing high.
But to take more statistically more probable trades we should wait for some type of lower timeframe confirmation, and it this case we can notice sign of strength, so potentially there is a higher probability to see price higher.
Your success is determined solely by your ability to consistently follow the same principles.
Could the price drop from here?GBP/AUD is rising towards the pivot which acts as a pullback resistance and could drop to the 1st support.
Pivot: 1.9745
1st Support: 1.9487
1st Resistance: 1.9816
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPAUD: Consolidation Trading 🇬🇧🇦🇺
GBPAUD is consolidating.
The price is stuck with a horizontal parallel channel on an hourly time frame.
We see a strong bullish reaction to its support.
The pair formed a cup & handle pattern.
With a high probability, the market will keep rising and reach the resistance of the range.
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Master this REVERSAL setupConsider price is in the downtrend- LL, LH formation creating IMPULSIVE MOVE. Mostly corrective move have 3 upside failed pushes and another BoS on downside and failing to retest creates "pinbar" and price extend further downside breaking 3 candle retracement. After that any pullback into an OB i.e. failed retest could be a potential opportunity.
(1st) Failed to make HH-HL
(2nd)BoS of Structural range (deep pull back)
(3rd) BoS of 3 candle retracement (Pin bar formation)
(4th) Pull back into OB will be an entry point.
GBP/AUD BEST PLACE TO BUY FROM|LONG
Hello, Friends!
Previous week’s red candle means that for us the GBP/AUD pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 2.020.
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Pound Down Under: Will the FVG Hold or Flip? - GBPAUDThe GBPAUD chart showcases intriguing price action with a potential bearish setup. Following the raid on higher time frame (HTF) buyside liquidity (weekly), price has displaced lower, signaling a short-term bearish bias.
On the daily timeframe, price has formed a high-probability FVG after raiding a short-term low. This FVG becomes a key level to watch:
-Scenario 1: If price respects the FVG, expect continuation to the downside, targeting sell-side liquidity levels at 1.98994 and 1.97929.
-Scenario 2: If the FVG is disrespected and used as an Inverse Fair Value Gap (IFVG), anticipate a bullish reversal, potentially pushing price higher.
Conclusion:
Short-term bearish bias targeting sell-side liquidity zones.
Monitor the FVG closely for confirmation or invalidation.
DYOR!
GBPAUDThe GBP Retail Sales m/m data coming in at greater than 0.4%, beating expectations of 0.4 is a positive indicator for the British economy. This suggests that consumer spending is holding up, despite concerns about inflation and economic uncertainty
As a result, we can expect the British Pound Sterling (GBP) to strengthen against other currencies. A strong retail sales report typically boosts the currency, as it indicates a healthy economy and increased consumer confidence.
Here are some potential implications for the GBP:
- Increased Demand: A strong retail sales report may lead to increased demand for the GBP, driving up its value against other currencies.
- Improved Economic Outlook: The positive data may lead to an improved economic outlook for the UK, which could support the GBP in the long term.
- Potential Rate Hikes: A strong economy, as indicated by the retail sales data, may lead to potential rate hikes by the Bank of England, which could further strengthen the GBP.
Keep in mind that market conditions can change rapidly, and other economic indicators may influence the GBP's value. However, for now, the strong retail sales data is a positive sign for the British Pound Sterling.
on a flip side below expectation will be a sell time for GBPAUD
GBPAUD FOR LONGThis Weekly FORECAST
Opportunity for GBPAUD. This setup is my trading idea/plan, if you want to follow: trade at your own risk (TAYOR).
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
GBP/AUD potential rebound ahead? 200+ pips swing sell
Currently, GBP/AUD is pulling back from the upper boundary of its established trading range. Price is testing support near 1.96015, with a possible extension toward 1.93966 If it stabilizes around these levels, I expect a move back into the central zone of the range before the market decides on its next direction.
System gives a short signalPrice seems to be bearish. My system tells me to get short. When/if 1st target gets hit, i will then move my stops to breakeven and then it will be a risk free trade.. With a risk ratio of 1:3 i can be wrong more than 60% of my trades and still be profitable. I never risk more than 2% per trade.
GBPAUD OUTLOOKThe 12 month chart shows price reacting from a strong demand zone though the price is yet to contact the unmitigated supply at 2.4 price handle.
On the monthly chart, price has created a bearish order flow indicating seller pushed price to the identified 12-month demand zone at 1.44 price handle. The internal structure on the monthly charts shows price struggling to create new highs, indicating bears are still in control of this market.
On the weekly charts, the market structure shows a short term bullish correction within a larger bearish swing structure. We have several bearish change of characters indicating bears are still controlling this market. Presently, price has formed higher highs and is correcting targeting the unmitigated zone at 1.89. If price pushes further below 1.85, we will have confirmation of bearish market structure targeting the 1.71 price handle.
The Daily chart confirms bearish order flow, we will wait for bullish price correction thereafter place our sell limits targeting the unmitigated demand on the weekly chart.
GBPAUD BUTTERFLY PATTERN Harmonic Pattern Trading Strategy:
1. Combine patterns with 2-3 confirmations (e.g., MA, BB, RSI, Stoch) for increased accuracy.
2. Implement proper risk management.
3. Limit exposure to 3% of capital per trade.
4. Exercise caution: Not every Harmonic Pattern presents a good trading opportunity.
5. Conduct thorough diligence and analysis before trading.
Disciplined approach = Enhanced edge.
Potential bullish reversal?GBP/AUD is falling towards the pivot which has been identified as a pullback support and could bounce to the pullback resistance.
Pivot: 1.9649
1st Support: 1.9486
1st Resistance: 1.9816
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.