GBPAUD - Look for Continuation Long (SWING) 1:6!
Updated
Hey followers! SFX is back after a loooooooong break! Here we go with the first setup after my comeback :)
The price is forming a descending triangle pattern on the higher time frame and is currently reaching the top descending line. Despite this, there is no sign of bearish momentum yet, as it is supported by a strong daily trendline. Be cautious of fakeouts, which are common as liquidity traps that can trigger stop-losses before the price potentially rises significantly.
Zooming in to the lower time frame, we observe a strong bullish flag, indicating that buyers are still active.
What should we do next?
Wait for another confirmation, such as the next candlestick or chart pattern, once the Daily/H4 closes before going long. If confirmation is given and the daily support holds, be prepared for the price to potentially rise significantly.
Oh, by the way, fundamentally, AUD is correlated with GOLD. Currently, DXY is showing strong bullish momentum and is consolidating (pulling back) at the moment. What does this mean? GOLD = AUD = Bearish.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
The price is forming a descending triangle pattern on the higher time frame and is currently reaching the top descending line. Despite this, there is no sign of bearish momentum yet, as it is supported by a strong daily trendline. Be cautious of fakeouts, which are common as liquidity traps that can trigger stop-losses before the price potentially rises significantly.
Zooming in to the lower time frame, we observe a strong bullish flag, indicating that buyers are still active.
What should we do next?
Wait for another confirmation, such as the next candlestick or chart pattern, once the Daily/H4 closes before going long. If confirmation is given and the daily support holds, be prepared for the price to potentially rise significantly.
Oh, by the way, fundamentally, AUD is correlated with GOLD. Currently, DXY is showing strong bullish momentum and is consolidating (pulling back) at the moment. What does this mean? GOLD = AUD = Bearish.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Note
Higher TF - What type of Chart Pattern? :)Note
Note
Lower TF? Are we ready? Trade active
Trading is a waiting game....Keep going baby! 70 pips and flying high! Protect your capital, move the SL.
Trade active
100pips and still flying to the moon!
_S.Fx_
Disclaimer
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