GBPAUD Dynamic Support| Apex| Price Action| 200MA| Range High
Evening Traders,
Today’s Second Analysis – GBPAUD- trading in a clear apex where a breakout will be imminent.
Points to consider,
- Price Action Apex
- Dynamic Support (200 MA Confluence)
- Range High Target
- Oscillators Neutral
- Volume Declining
GBPAUD’s immediate price action is at a pivot point, a break in either direction will dictate the overall trend.
The dynamic support in confluence with the 200 MA has been respected. Price holding above it is crucial in maintaining a higher low projection.
GBPAUD’s bullish break will make the immediate target Range High
Both oscillators are currently trading neutral, indicative of a break as this highlights price being in equilibrium.
The volume is currently below average, an influx is highly probable when a break comes to fruition. This will help avoid false breaks as price movement will be backed with volatility.
Overall, in my opinion, GBPAUD has a higher probability of breaking bullish, thus long trades are valid with defined risk. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“He who knows when he can fight and when he cannot will be victorious.” – Sun Tzu
Today’s Second Analysis – GBPAUD- trading in a clear apex where a breakout will be imminent.
Points to consider,
- Price Action Apex
- Dynamic Support (200 MA Confluence)
- Range High Target
- Oscillators Neutral
- Volume Declining
GBPAUD’s immediate price action is at a pivot point, a break in either direction will dictate the overall trend.
The dynamic support in confluence with the 200 MA has been respected. Price holding above it is crucial in maintaining a higher low projection.
GBPAUD’s bullish break will make the immediate target Range High
Both oscillators are currently trading neutral, indicative of a break as this highlights price being in equilibrium.
The volume is currently below average, an influx is highly probable when a break comes to fruition. This will help avoid false breaks as price movement will be backed with volatility.
Overall, in my opinion, GBPAUD has a higher probability of breaking bullish, thus long trades are valid with defined risk. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“He who knows when he can fight and when he cannot will be victorious.” – Sun Tzu