GBP/AUD

Back in May after RBA rate cut , i started adding shorts once above 2.00 to 2.04.
Few days before brexit i closed half my position and then, u all know what happened.
No regrets though as my MM was rightly executed.
When the next retrace came above 1.76, i added more position and again closed some at the next leg down.

This time, again after RBA cut, unwinding of GBP positions, i added again at 1.74... but now i am not too sure. The breakdown of GBP should have resulted in another decent drop but the USD expectations pulled AUD down. The resulting rise in GBPAUD says AUD broke down more than GBP, making me rethink about GBP weakness...

While my timing for past few months seem appropriate, i am thinking hard about the next few months before winter comes... Next RBA possible rate decision may come in Nov, and while i doubt they really want cut again with the housing market situation, i feel it is best to close most of my position by then.

I quoted this because my previous targets were 1.64 and 1.56.

Any comments?

Neutral at the moment.

am bullish

I'm bullish too avibe. looking at the same H/S pattern here. I entered too early but have just averaged down with the price. see how we go.

beautiful rebound ..lets crush this

I'm in the favor of sellers targeting 1.6535-30 for GBPAUD

The pound is more than 20 % undervalued compared to purchasing power parity. I'm not buying yet, but it might be time to look for some kind of fundamental catalyst to the upside.

was putting an order in to grab 15 pips up and price blipped 70 pips in a couple seconds, ll have to check the news...

I have been trying to surf the waves since yesterday evening. Made a bit of success selling relative high and buying after I gain few pips.
But I feel there must be a better way to to this.
Anyone else trying to take advantage of this?

Inside bullish bar at support area

Waiting for a motherbar breakout to go long

sell, tp +200 pips

I agree. I am also short with my target set to 1.556.
Likewise for GBP/USD target 1.189.

I am very bearish GBP.

Forgot to mention..that I've noticed that there is a negative correlation between GBP/AUD and AUD/CHF from a long term view...Since GBP/AUD is a downer ..more likely AUD/CHF will see roughly a + 600 pips move.

no, that is not the case... you are saying there is a positive correlation between GBP and CHF... check the charts...

I agree with you from the long term view AUD/CHF is showing weaker signs . However, since I am looking at the quarterly chart and from my own analysis...I see that there is a possibility of a positive 600 pips move...before we see the price moving down to first target 0.7150 then second target 0.65.

Please note, I am mainly long term trader, hence; I use massive stops, and I only trade short ....I never ever take a long bias trades no matter what.

I see a quadruple bottom from the daily chart. at least in the short term, the trend is going up.

next week if price retraces back to around 1.6330, there will be a good buy entrance.

the macd can evolve at any time.
this is a problem.

if there is a strong trend. macd divergence is ineffective.

Hi

I am waiting to take the transaction Long. D1 - price above the cloud, chinkou span and price bounce the support, also fibo 38,2 with HD, price above kijun
H4 - I am waiting to close the candle above the cloud. TP near 1.738235

This pair always rewards handsomely.