GBP/AUD: Parallel channel, 80 pips in play!

FX:GBPAUD   Britisches Pfund / Australischer Dollar
Hey there,

It seems we have a parallel channel in place with the pair, so the downtrend should continue next week.

Wait for the prices to test the dotted trend line before entering any position.

Profit target: around 80 pips.

Feel free to like/comment my ideas.

Trade at your own risk.


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Hi Swisspips what do you reckon on cadjpy short ?I`m using 2h chart combined with d1 chart i can see 2h chart price struggleing to get higher and d1 suggest trend continuation downwards.I`m looking forward to hear your ideas as u got a good sense of the market !
SwissPips quantmiscs
@quantmiscs, Actually anything can happen from a H4 perspective. As you can see the pair is about to confirm a direction but I would favor the upside, since on H1 it's making higher lows + volumes tend to show that buyers are in....

Does that make sense ?
it looks good. But what if Aud is also weak in the next week
+1 Antworten
SwissPips yitiancai
@yitiancai, We will have to see how prices will go around this trend line. Of course in case they don't break to the downside this setup is no longer valid.
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