GBP AUD - Break or rejection 61.8%?
GBP AUD - 4hour chart
Be ready for either direction on the lower timeframe.
Technicals to assess.
We have a bearish hammer forming on the 4 hour chart.
The Fibonacci down trend is in play, however the 61.8% has not been attacked yet with no signal of a lower high formed.
With GBP AUD - price moves quick with a strong engulfing once the orders are ready and filled to either the downside or upside.
If the trend line is intact, then the lower high rejection wicks are in play.
A break will see downsides to look for positional holds to 1.74 with the weekly imbalance looking likely again.
This can be a good hedge trade to longs.
However, buys can be engineered by a perceived short position in which we will look long again with 1.767XX to remained untested.
See the main idea here for longs, shorts.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners through to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes.
Regardless we will continue producing analysis.
Thanks,
Team Lupa
Be ready for either direction on the lower timeframe.
Technicals to assess.
We have a bearish hammer forming on the 4 hour chart.
The Fibonacci down trend is in play, however the 61.8% has not been attacked yet with no signal of a lower high formed.
With GBP AUD - price moves quick with a strong engulfing once the orders are ready and filled to either the downside or upside.
If the trend line is intact, then the lower high rejection wicks are in play.
A break will see downsides to look for positional holds to 1.74 with the weekly imbalance looking likely again.
This can be a good hedge trade to longs.
However, buys can be engineered by a perceived short position in which we will look long again with 1.767XX to remained untested.
See the main idea here for longs, shorts.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners through to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes.
Regardless we will continue producing analysis.
Thanks,
Team Lupa
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