Possible short opportunity on GBPAUD
Updated
WEEKLY:
- On the weekly we can see that we are still bearish.
- We can also see that we broke through previous support, we broke it with a lot of volume.
- This weekly s/r level is very respected
DAILY:
- On the daily we can see that we broke trough a strong support zone
-> could turn into resistance
- Our fib 'golden zone' is also aligning with our s/r level
- We have a clean trend line and EMA that both are aligning with our s/r zone
4H:
- I am waiting for confirmation on the 4H timeframe to have a possible entry signal. I want to see the 4H switch bearish.
- On the weekly we can see that we are still bearish.
- We can also see that we broke through previous support, we broke it with a lot of volume.
- This weekly s/r level is very respected
DAILY:
- On the daily we can see that we broke trough a strong support zone
-> could turn into resistance
- Our fib 'golden zone' is also aligning with our s/r level
- We have a clean trend line and EMA that both are aligning with our s/r zone
4H:
- I am waiting for confirmation on the 4H timeframe to have a possible entry signal. I want to see the 4H switch bearish.
Note
Waiting for price to become bearish on the 4H timeframe to take an entry.Order cancelled
Price did not shift bearish on the 4H timeframe so I didn't enter the trade => avoided a loss.
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