Bigger Picture for AUDUSD - forex news.gci trading

Bigger Picture for AUDUSD ~ forex news.gci trading

Audusd is currently trying to move back to the top of the weekly trendline from 0.80634, when the took off to the currently high. The trendline is what it holding the pair from rising higher for now. If the weekly successful opened and closed above the trendline, then the trend will resume on the higher time frame. If the trendline holds, the a fall to 1.02500 which is the base for the current move is possible. A fall below will drop the pair back to its concrete zone 1.02500 - 0.95000 where it traded for the past 6 months.

My view is that a big reverse is in the horizon, the monthly, weekly, daily are all dangerously close to the overbought zone. A touch of 50 point mark is due on the daily RSI.

Recommendation: short whenever H4 enters the yellow zone and take profit if it drops back to the 50 point mark on H4 RSI

This is the bigger picture.
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Cable still respecting the the concrete zone - forex news gun trading

Cable still respecting the the concrete zone ~ forex news gun trading

Cable is still respecting the concrete zone and the pressure is to the downside. For any move to the upside to be valid, the pin on H4 will have to be neutralised by another H4 candle above the pin.
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GBPUSD 450 Pips Box - forex market news in hindi

GBPUSD 450 Pips Box ~ forex market news in hindi

I have said it several times in my previous posts, it is always helpful to have the bigger picture in mind when trading.



For the past 10 weeks the cable has been trading withing a 450 pips range. For 11 weeks, it has been Bull+Bear+Bull+Bear, etc, the only exception being last week and this week which is currently Bull+Bull. If the pattern is to continue this weeks candle might end up being a bear. The pair has thus create a 450 pips concrete zone. This a strong manifestation of consolidation between 1.60000 and 1.64000, the middle of the zone is somewhere around 1.62000. To break out of this zone, a weekly candle need to open and close.



How do you trade concrete zone? Short as near as possible to the top of the zone and go long as near as possible to the base of the concrete zone using H4 candle as guide and M15 for the best entry. As for stop loss, set them outside the zone (It can as low as 3 pips or as high as 50 pips depending on your risk appetite). A false breakout outside the zone of about 50 pips is possible. Trading this way, you avoid chasing every price movement. It is most profitable and less stressful to have the bigger picture in mind.





I attach the weekly, daily and H4 charts clearly illustrating the above analysis.
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