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Inacio_1998

GBPAUD Overview week commencing on the 13th Dec. 2021

Short
Sterlina / Dollaro australiano (FX:GBPAUD)  
Inacio_1998  
FX:GBPAUD   Sterlina / Dollaro australiano
Trend Analysis Wave Analysis Beyond Technical Analysis GBPAUD gbpaudshort gbpaudlong gbpaudanalysis marketsructure downtrend short shortsetup
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trendanalysis waveanalysis beyondta gbpaud gbpaudshort gbpaudlong gbpaudanalysis marketsructure downtrend short shortsetup
Weekly chart - closed strong bearish engulfing 2 weekly candles. Could still some bearish for this week.
snapshot
Daily Chart - broke minor level of support came back around the area of previous resistance and rejected (could we come lower or potentially start raging?)
Previous Daily candle - doji showing some indecision around the "minor" support which can now potentially become support.
snapshot
H4 Chart - Previous level of support broken and being retested a potential resistance now, in line with 38.2% Fib level.
snapshot
30m Chart - ABC corrective (just reach TP level and new level of resistance established), 2 approaches can be taken:
Aggressive approach: if a double top scenario happens then short at the double top!
Conservative approach: wait for bearish confirmation on 30m Chart break of support level (then retest as resistance) before shorting
snapshot
Follow up as the week goes on....
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