We have a pretty tight stop loss entry in this pair if we break a previous day high (PDH) soon. Stop loss should sit below the last daily low here.
If we move straight up from this juncture chances are the daily timeframe signals the market is accumulated and ready to march higher once enough time passes, most likely trading sideways at a higher price zone.
Current daily trend expired, a 12 day advance, so we can expect a 12 day consolidation or retracement, but if price breaks up, since the largest timeframe is trending up, buying into strength would be a low risk, big reward entry, which might evolve into a larger move over time.
See the monthly chart below for reference.
Best of luck,
Ivan Labrie.
If we move straight up from this juncture chances are the daily timeframe signals the market is accumulated and ready to march higher once enough time passes, most likely trading sideways at a higher price zone.
Current daily trend expired, a 12 day advance, so we can expect a 12 day consolidation or retracement, but if price breaks up, since the largest timeframe is trending up, buying into strength would be a low risk, big reward entry, which might evolve into a larger move over time.
See the monthly chart below for reference.
Best of luck,
Ivan Labrie.
Note
Note
Note
#GBPAUD is retesting support, could be a bottom here, if it is, we can join the longer term trend around here, watching it closely Trade closed: stop reached
Trade active
Good spot to retry buying into this pair.Tight stop below 1.7617
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linktr.ee/ivanlabrie
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.