GBPAUD >> Triple Max // Looking for a Short Entry (Ichimoku)

2017年12月18日

Goodmornng traders,

This morning I found very interesting this pair.

Let's start from a weekly chart, where I found a triple max ( >> where the arrows are), and a triple refuse from prices to break that level up.
So, today I'd like to look for a short entry, maybe up to the weekly Kijun (>> which could be our very first obstacle on this timeframe).

Let's go on with the daily chart.



This timeframe is very interesting, even without Ichimoku.

1 >> We can see the higher resistance, which was broken on the daily chart, so that could have created bullish expectations, but then prices start to come down. This is due to the fact that the resistance was given from a weekly chart, so that level couldn't be considered as broken since the weekly chart didn't decide so.

2 >> Now prices stopped on a support created from price action ( >> See arrows), resistance before, now support.

On this timeframe we are on an uptrend (>> still), while the phase is bearish ( >> You can see it by all those red candles).

Can you see it?[/I]



This is the trend.[/I]



This is the phase.[/I]



We can understand it's not a phase anymore, when it goes to break the previous lows.[/I]

Now let's use Ichimoku.



Cool, it confirms what I was saying, and it proves it by the Kijun Breakout ( >> Which means prices are loosing their bullish power, and maybe they can start a bearish trend).

Let's see a H4 chart.



Here we can see ore details about the move.

1 >> Higher highs, with the last correction ( >> Outside return) which doesn't mind and breaks everything out.

2 >> Ichimoku is broken out by prices.

3 >> Prices calm down, and slow on the support given by the Daily price action,



and we have a reminder about is, given by the SSB.

Let's look for an entry on the 15 min chart.



Here we can see how prices have slowed down, not having a real trend in this moment. Ichimoku also says the same, with flat Kumos.

What I want now it a breakout of this flat movement, with a retest - if possibile - of this one, so I might say we have to wait a bit :-)

>> Leave a Like if you agree.
>> Tell me what you thing in the comment below.

2017年12月18日

註釋

It's critical on the 15 min chart, with a double top which is forming. Maybe could be a nice entry point to use a good risk - reward ratio. What do you think?

2017年12月18日

交易進行

I got into the trade ( >> Short), because I saw in the double top an opportunity to be rejected by that level.
The stop is tiny, and the target enormous ( >> Weekly Kijun). Of course I know it's far far away, so basically the trade is the same as my usual ones >> I go on until the 15 min chart shows me an inversion, or gives me any signals which are not good for the short to go on.
That was a very aggressive entry, but it's my way of training ( >> also I know how to tread my money management).
Let me know what you think about it :-)