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GBPAUD trade ideas

GBPAUD: Focus Shifts To BOE - Bearish Harmonic PatternGBPAUD: Focus Shifts To BOE - Bearish Harmonic Pattern Tomorrow the Bank of England will announce Its Monetary Policy statement and Interest Rate decision. The market is widely anticipating a possible rate cut from to 5% vs 5.25% actual rate. The market is expecting BOE to cut rates by 25 basis points. If that happens we may see GBP getting weaker. Technical Analysis: Price completed a daily harmonic pattern near an old zone thus raising the chances for a bearish movement. However, the AUD is still weak, we may see the GBPAUD reverse direction over the next few days. The next move is all about BOE rate decision. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Short
by KlejdiCuni
13
GBP/AUD Analysis and Sell Trade Review### GBP/AUD Analysis and Sell Trade Review #### Market Context: 1. **Swing High Taken Out**: The market has made a new high, indicating potential liquidity grabs where traders' stop-loss orders above the previous highs might have been targeted and executed. This can often lead to a reversal or a significant pullback as the liquidity above the swing high is consumed. 2. **Fair Value Gap (FVG) Created**: An FVG typically represents a price imbalance where the market moved too quickly, leaving behind a gap in the order flow. This gap can serve as a potential resistance area where price might reverse or consolidate before continuing its previous trend. 3. **Change in Status Delivery**: This term suggests a shift in market dynamics, possibly indicating a change from bullish to bearish sentiment. This change might be confirmed by a break in market structure, such as lower highs and lower lows forming after the swing high is taken out. #### Sell Trade Setup: Given these conditions, here is a structured approach to a sell trade: 1. **Entry Point**: - After the swing high is taken out, wait for price to enter and react from the FVG. Look for bearish reversal patterns or confirmation signals, such as bearish candlestick formations (e.g., pin bar, engulfing pattern) or a break below a key support level within the FVG. 2. **Stop Loss**: - Place the stop loss above the recent swing high or above the upper boundary of the FVG. This helps protect against false breakouts or continued bullish momentum. 3. **Target Levels**: - The first target could be the nearest significant support level or the low of the previous consolidation range. - Further targets can be set at key Fibonacci retracement levels or prior swing lows, where price might find support. #### Trade Management: - **Risk Management**: Ensure proper risk-to-reward ratio, ideally aiming for at least 1:2 or 1:3. - **Trailing Stop**: As the trade moves in your favor, consider trailing the stop loss to lock in profits and minimize potential losses. - **Monitoring News and Events**: Keep an eye on economic news and events that might impact GBP/AUD, as they can cause sudden market volatility. #### Example Scenario: - **Entry**: After price takes out the swing high and enters the FVG, a bearish engulfing candle forms, indicating a potential reversal. Enter a sell position at the close of this candle. - **Stop Loss**: Set the stop loss above the swing high. - **Take Profit**: Set the first target at the previous swing low, and additional targets at further support levels or Fibonacci retracement zones. By following this structured approach, you can manage your GBP/AUD sell trade effectively, aligning with the observed market conditions and technical analysis.
Short
by Asif_Brain_Waves
FINALLY A BREAKOUT ON GBPAUD LOOKING AT A STRONG LONGTERM BUYThis currency pair has been on my watch list, it has been consolidating for quite some years looking triangle formation on the monthly time frame and has not been making any meaningful moves. But that just changed in past couple of days. It finally broke out of the triangle which is in the 2nd wave of the higher degree in the monthly time frame , meaning we are now looking at the most anticipated, a 3rd wave of the higher degree, which just began by the way. NB: NEVER TRADE AGAINST THE TREND. So in the lower time frame it has completed five waves and began a retracement wave ABC, its now completed wave A, we are looking at a wave B forming then we should expect a sharp decline of wave c, hopefully at the 0.382 Fib level then a continuation of the buy after a double bottom formation. Buy entries should be expected at the beginning of the dip(at the apex) and should be held up to 2.20571 level. Happy trading Mates.
Long
by EDDKENDA
2
Over+750 pip in GBP/AUD in our last call(07/31/2024)in our last analysis We were expecting a big rally for GBP/AUD. Since then the price moved in our favor and made over +750 pip for us. Despite weaker CPI data for AUD, we are now looking for a correction in the 1.98 zone. Our technical view has been shown in the chart. If you like it then Support us by liking, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
by fortunamarkets
SELLING GBP/AUD from 1.9771Last Thursday's daily candle on GBP/USD (25th July) closed with a nice long tailed pinbar. Becuase of this and becuase the RSI on D1 closed at 83.42 , I've been keeping my on this pair in anticipation of a move south. The next 4 daily candles were all doji indecision candles and with the RSI moving to 79.45, then GBP/AUD looked ready for a move south. However. Its imperative that if you have a trade planned and you intend to hold the trade overnight then you MUST check for news. This morning at 02:00 UK time, the CPI numbers were released and though the CPI q/q and CPI y/y met target, the Trimmed Mean CPI missed coming in 0.8% against 1.0% expected. This was sufficient for the AUD to sell off aggresively and GBP/AUD was sent 151 pips higher. A look on the H4 time frame and you can see that the previous 2 H4 candles form a pincer/double op and the current H4 candle is BEARISH. This looks a good opportunity for SHORT trades. The ANdean Oscillator on H4 is rising from zero as the green BUY line crosses the signal line. These are BEARISH signs. RSI is declining. MACD has yet to catch up on H4 but on M30 the fast MA has crossed the slow MA and on H1 the 2 MA's are moving together and edging south. All the signs are that this pair is moving lower and with AUD/USD turning BULLISH then I think this trade has a good chance. Target is open but the band of support at 1.9620 area looks a potential target although tomorrow BOE Monetary Policy and MPC Bank Rate makes all technical analysis redundant.
Short
by forextraplaces
GBPAUD - 4hrs ( Buy Trade Target Range 240 PIP ) ✔️Pair Name : GBP/AUD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money Key Technical / Direction ( Long ) Type : Mid Term Swing ——————————— ✔️Bullish Break 1.94000 Area Reasons - Choch Zone - Pattern Break - Fixed Range lvn - Visible Range lvn - Fibo Golden - Day / week high ✔️Bearish Reversal 1.96400 Area Reasons - Major Turn level / D - Pattern Target - Visible Range Hvn - Choch Area - Fixed Range Hvn - Quarters Area
Long
by GoldenEngine
5