SubscribeWell I should have listened to myself, shouldn't I!
GBPAUD did not rise by 300 pips it went up by 600pips!
Thread: Gbp/Aud
Well I should have listened to myself, shouldn't I!
GBPAUD did not rise by 300 pips it went up by 600pips!
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Asif777 (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23)
I'd be VEEERRRYY careful going long here, guys. Looks like you'll be buying the top as far as I can see. I think we'll be making new lows here shortly.
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Thanks for that, ovaforty.
My concern is that with AU in a downtrend - Aussie is obviously weak and looks set for a fall back to parity with the Dollar - could mean a 300 pip rise or more when it comes to GBPAUD
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Hanif484 (2019-01-23), Tanveer333 (2019-01-23), Unregistered (1)
The daily charts shows a bullish engulfing candle, breaking the aqua colored 23 fib of the last downtrend from 1.6183 to 1.4709.
Tuesday, she broke above the green 22 sma, re-tested and held the next 2 days, then soared up today (Friday), halfway to the brown 55 sma sitting up around 1.5147 area. That is the next upside target. The red 200 sma is sitting around the 1.5231 price level for now.
It is not unusual for the month of August to produce retraces in all the pairs. It is a seasonal pattern to be aware of.
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Asif777 (2019-01-23), Tanveer333 (2019-01-23)
Weekly chart for gbp/aud shows a reversal candle formation (Morning Star).
I booked all my shorts from the end of February yesterday.
I am now building small tester positons cautiously at this point, as the price has retraced into a possible correction short term. Stop losses above 1.5160.
I see more upside potential in this pair, and I trade it for swap interest, not pip gain. Very small positions with lots of free margin to run negative if she must, but still counting on a continuation of the long term carry trade downtrend around Sept. This is a separate account from my day trading acct. Set and forget. once stop loss is moved to break even, the risk is removed. But for now there is risk of loss.
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Hi forexstrah
You still around?
Really looking good for further down move to 4800 or less?
You do you think?
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Hanif484 (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23)
Hi forexstrah
The market is totally flat at the moment. Pretty miserable! I'm not in anything and waiting to see if we have a solid break of 5200 or 5260 (going up) as far as GBPAUD is concerned. Agree that we're probably in consolidation maybe even counter-trend?
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Asif777 (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23)
Thanks for that - I missed the good entry at 8.00am this morning (GMT)
The trend is so steep I'm looking for another entry off the 30 min resistance (using tunnel)
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That was a great run. I am out now and waiting for a pullback before getting back in. I still think we will see 1.46 eventually but looking at the longer time frame charts (weekly) we are overdue for a "bar that refreshes".
What are your thoughts now?
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Hanif484 (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23)
Wow it's broken through the 30 min resistance - looking at the 1 hr now - see what happens at start of 2.00pm candle?
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Asif777 (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23)
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