GBPAUD Analysis Part #2
Happy Thursday Everyone,
I’m still very fairly new to this platform so all criticism is welcomed as it all contributes to being a more efficient, consistent and of course most importantly; PROFITABLE trader.
If you check out my first analysis ever on this platform i suggested that maybe GBPAUD is in the midst of a complete reversal. On the Daily timeframe after i saw the huge Morning Star that price presented to us after consolidating. Price continue to consolidate and completely collapsed retesting my Weekly support level. If you throw a Fib on the daily timeframe, my weekly resistance lines up almost perfectly with the 78 extension it makes sense for me to understand why price revisited that level. That first Morning star i spoke to you all about earlier rejected that 78 extension level and price came down twice and gave us ANOTHER DAILY Morning Star. Price also followed it up the next day with a huge Daily Doji which was screaming Bearish Vibes throughout the universe.
After all of this price action i finally decided to get in for only BULLISH Confirmations on the 4hr TimeFrame. Massive rejection candles and 4hr Key levels that price rejected all gave me the confluences to validate the reversal and most certainty gave more validation to the fib.
My First TP just cashed out today from 1.73800 to 1.76000. How did i know price was going there ? I didn’t. I just used my technical analysis of this pair knowing GA has specific daily support and resistance levels which i highlighted for you all in Orange. Now that price has visited this area i would presume that after such a violent move towards the sky, it would find support somewhere giving us a higher low. I will get in for more buys after strong bullish patterns on a sturdy support.
If you made it this far in my analysis i appreciate you taking the time out of your day and life to read it lol. If you want more content like this and found it helpful, i would love to keep sharing but motivation for this part of the job is a lot for me so Please stop by my page and give a thumbs up or smash the reputation button and I’’l keep more of my thoughts coming. Most of my analysis will come about GA, GU, EU & Gold. As of recently I’ve been playing with BTCUSD too so be on the lookout for that as well in the near future.
Make that Money Y’all !
I’m still very fairly new to this platform so all criticism is welcomed as it all contributes to being a more efficient, consistent and of course most importantly; PROFITABLE trader.
If you check out my first analysis ever on this platform i suggested that maybe GBPAUD is in the midst of a complete reversal. On the Daily timeframe after i saw the huge Morning Star that price presented to us after consolidating. Price continue to consolidate and completely collapsed retesting my Weekly support level. If you throw a Fib on the daily timeframe, my weekly resistance lines up almost perfectly with the 78 extension it makes sense for me to understand why price revisited that level. That first Morning star i spoke to you all about earlier rejected that 78 extension level and price came down twice and gave us ANOTHER DAILY Morning Star. Price also followed it up the next day with a huge Daily Doji which was screaming Bearish Vibes throughout the universe.
After all of this price action i finally decided to get in for only BULLISH Confirmations on the 4hr TimeFrame. Massive rejection candles and 4hr Key levels that price rejected all gave me the confluences to validate the reversal and most certainty gave more validation to the fib.
My First TP just cashed out today from 1.73800 to 1.76000. How did i know price was going there ? I didn’t. I just used my technical analysis of this pair knowing GA has specific daily support and resistance levels which i highlighted for you all in Orange. Now that price has visited this area i would presume that after such a violent move towards the sky, it would find support somewhere giving us a higher low. I will get in for more buys after strong bullish patterns on a sturdy support.
If you made it this far in my analysis i appreciate you taking the time out of your day and life to read it lol. If you want more content like this and found it helpful, i would love to keep sharing but motivation for this part of the job is a lot for me so Please stop by my page and give a thumbs up or smash the reputation button and I’’l keep more of my thoughts coming. Most of my analysis will come about GA, GU, EU & Gold. As of recently I’ve been playing with BTCUSD too so be on the lookout for that as well in the near future.
Make that Money Y’all !
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