GBPAUD (Daily) LONG IDEA: a NEW upcoming UPTREND!
POTENTIAL PROFIT: UP TO 300 PIPS
TECHNICAL ANALYSIS:
-Since the beginning of April 2020, the price has been following a long downtrend, until the end of June, where the price bounced twice on an important weekly support zone.
-The second rejection moved the price up over the ema 50, starting a new side trend around a secondary S/R Level at about 1.80558.
-The 14th of December, the price retested the support zone, a long shadow on the last downbar showed a sign of weakness to continue the same trend, in fact the price is now moving with a new uptrend.
CONCLUSION:
-The price is actually bouncing on a new trendline support and I aspect it to move up until at least the secondary S/R level.
Before to open any position, I suggest to wait the retest of the trendine support and be "sure" that the price action confirm the new uptrend.
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Have you got some similar or interesting idea? Feel free to leave a comment below sharing your idea!
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TECHNICAL ANALYSIS:
-Since the beginning of April 2020, the price has been following a long downtrend, until the end of June, where the price bounced twice on an important weekly support zone.
-The second rejection moved the price up over the ema 50, starting a new side trend around a secondary S/R Level at about 1.80558.
-The 14th of December, the price retested the support zone, a long shadow on the last downbar showed a sign of weakness to continue the same trend, in fact the price is now moving with a new uptrend.
CONCLUSION:
-The price is actually bouncing on a new trendline support and I aspect it to move up until at least the secondary S/R level.
Before to open any position, I suggest to wait the retest of the trendine support and be "sure" that the price action confirm the new uptrend.
❤️If you enjoy my FREE Technical Analysis , let me know that with a big LIKE, I'll be so glad!
Have you got some similar or interesting idea? Feel free to leave a comment below sharing your idea!
Are you interested getting more FREE Technical Analysis like this? SUBSCRIBE my channel and you won't miss anything!❤️
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