GBP/AUD - Daily Trading

brave souls have won once again

next stop is 1.76

sharp pull back but support is found at the 20-day moving average for now

good buy in my opinion from 1.73/1.72 areas with stop below 20-day moving average

Yeah ... and risk was???

omg i love it, it just blasts off during the night and i wake up to profit

people who are short are getting spanked

sharp pullback on GBP but I think that the trend will continue to the upside after this pair breaks out past 1.76

as long as it remains above the 20-day moving average, it will have good support

next week, we could see a break past 1.76

this week, the pair was supported by the 20-day moving average

shorts are getting spanked when the trend is bullish

perhaps this pair is the best to trade long term as it has been bullish and many brokers have high swap fees for longs

it is testing the 20-day moving average at the moment

this will determine if the pair will be more bullish or bearish in the near term

i still think that it is a good buy with a stop below the 20-day moving average as the GBP is still strong due to the fundamentals and the AUD is weak

it is now below the 20-day moving average and a further move to the downside is likely to happen

the rally after March 21st may have ended and this pair could be in a range for now until the fundamentals from the U.K point to a strong GBP

Dont think! Just buy now!

you have to adapt to the market and know when to trade

brave bears can try to short as it approaches the 20-day moving average

i don't think that it will turn bullish in the near term anymore

will be more bullish as it closes above the 20-day moving average

1.72 area is strong support

two possibilities to trade

1. sell with stop above the 20-day moving average
2. wait until it closes on the daily above the 20-day moving average and buy

wow its exploding

Wonder how far the pull back will be. will be taking small position buys unless it daily closes below 1.6568

Thread seems dead. Was thinking of switching to this as my primary based on the movement it gets daily. Any thoughts on this? From what I'm seeing the M1 appears to be in an up trend but pulling back down for now. And the D1 seems to be in a down trend. Will put up some charts later on, but the daily trading on this seems to be pretty good. After getting the direction from the longer charts I'm planning on trading the M15 since it seems to move 400-800 pips daily.

I think there may be some upside from here (good support 1.7600) to around the 1.78xx and look for a break of the 1.79 line to more possible upside, but if you look on the 1hr chart might be a set up for a nice H&s longer term.

Seems to me that the price has been going down mostly from the H1/H4. There's certain areas of support/resistance as it's been going down and lots of consolidation. The D1/W1 shows that it's been going up, but that's really for longer term trading. The upper area I'm seeing is about the 1.7600 as you said, but below that the next major area seems to be in the region of 1.73574. I don't expect any major turn until it gets there. So far it's still been going mostly downwards. It's fighting to get back above the 1.76000 area since going below, but I'm not sure how far it will go.

Where the consolidation is concerned, it's really been just bouncing between the 1.76000 and 1.77000 area for the past week since coming from 1.80000 - occasional trips to the 1.75xxx region.

So I've really just been taking the current direction from the D1 (down) and trading on the M15 while watching the reversal areas. We've got mortgage for GBP and manufacturing for AUD coming up. Maybe it will pick a direction from the consolidation that's been going on thereafter.

So the pair picked up this morning and went along the D1 downward trend. Seems to be pausing currently and may be turning to go back upwards. I had an entry at 1.76306 and had my exit (TP) at 1.75497 - so about 800 pips. I have a zone at 1.73407, but as we know price tends to turn around at the round numbers. Since it's currently in the 1.74000 area I'm either expecting some reversal or consolidation before going down more. Bearing in mind that the weekly/monthly trend is up, I don't expect it to go below the 1.71000 mark on the W1. Any other thoughts?