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Gbpaudpattern

GBPAUD Short Idea. Will this major doubletop brings GBPAUD down?GBPAUD has its uptrend going on for sometime now and it's currently at the retest zone of a major double top in the weekly/monthly timeframe. Since the monthly and weekly shows bearish structure, I believe the GBPAUD will begin to shift from short term uptrend to downtrend after the retest on the double top neckline. Daily timeframe shows a bearish engulfing candle as confirmation, rejecting the neckline zone. Will look for Short opportunities when price pullback depending on which direction into the green zone / orange zone and continue heading lower to 1.77500 range (weekly support). First time sharing my idea here. Usually I don't really share ideas on TradingView. Do let me know what's your idea/feedback if you have. Thanks for reading my idea.
Short
by ckck15
2
20 Reason for sell GBPAUD🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1 ✨Eagle eye: Yaely time Frame this is a current bearish solid trend even from 2002 to 2020. the massive volume also included in the selling side, according to the big picture, no chance for a reversal already best-ranging market 2 📆Monthly: another established bear trend proper higher lows current market is in a correction phase 3 📅Weekly: correction phase, prices make a halt and trigger event, now prices are ready to go down for fill weekly FVG 4 🕛Daily: after making two higher lows and prices corrected themselves, filling taping the previous OB and taping can go down 90% chance 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: bullish 6: 2 Pattern Candle Chart: double rejections with proper momentum candles before it a key reversal 7: 3 Volume: high volume at the top 8: 4 Momentum UNCONVENTIONAL Rsi: resisstence at 60 level 9: 5 Volatility measure Bollinger bands: full squeeze with a head-fake type formation 10: 6 Strength ADX: bear are just begun gaining strength 11: 7 Sentiment ROC: GBP is weaker than AUD ✔️ Entry Time Frame: H4 12: Entry TF Structure: clean bear 13: entry move: wait till correction 14: Support resistance base: previous ob and fvg 15: FIB: Nill ☑️ final comments: sell at correction 16: 💡decision: sell 17: 🚀Entry: 1.8077 18: ✋Stop losel:1.8280 19: 🎯Take profit: 1.6353 20: 😊Risk to reward Ratio:1:13 🕛 Excepted Duration : 60 days
Short
by Optimum369
4