Hi Traders! GBPAUD technical analysis and short term forecast is here. We do our analysis on the MetaTrader4 platform (MT4). Some very interesting and useful tips and hacks about the MT4 platform could be found here. If you would like to learn more about the way we trade and the technical analysis we use then check out the Home Trader Club Spoiler alert – free memberships are available!
As an Internationally Certified Financial Technician (CFTe, IFTA) and former private capital hedge fund trader, I have successfully mentored numerous students who are now thriving in the trading world. Students who learned with me, are now full-time traders, work in the trading industry, run their own capital firms or are fully funded traders by private companies, develop automated trading solutions and manage others’ capitals. I am a very proud mentor and I am proud of the success stories I’ve helped create, and for a limited time, I’m offering my mentorship program for free through a partnership with Eight Cap broker. Join Eight Cap, become an active trader, and choose the offer that suits you best –
For more details, visit: Home Trader Club Mentorship Program
I’m excited to work with you and help you reach your desired level of success!
On the H1 chart, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. In addition to this, there are no signs opposing this short term bullish view at the moment. Currently, it looks like a correction is happening and in addition to this, based on the Stochastic Oscillator we could see that the price has reached it’s extreme, which we may consider as another evidence of bullish pressure. Also, we had two strong resistance zones that has formed and the price which was moving higher has broken above these zones and is holding above them. After the breakout these strong resistance zones are acting as two strong support zones for us. There are two possible scenarios from here, the price might move higher from the current zone or alternatively if it moves lower then the next area to look for bullish setups with bullish evidences would be the second strong support zone. Until both these strong support zones (marked in green) shown in the image below hold my short term view remains bullish here and I expect the price to move higher further.
It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this short term buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
Also, don’t forget to protect your buy trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.
You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.
Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?
I invite you to
And improve your trading with us.
Also, you can get one of our strategies free of charge. You will find all the details here
If you have any further questions, don’t hesitate to drop a comment below!
Happy Trading!
Arvinth Akash
Home Trader Club Team
U.S. stock index futures were subdued on Thursday, as AI-heavyweight Nvidia's revenue forecast failed to…
Hi Traders! Litecoin short term forecast and technical analysis is here. We do our analysis…
Hi Traders! NASDAQ short term forecast follow up and update is here. On September 4th…
Hi Traders! EURCAD technical analysis and short term forecast is here. We do our analysis…
Hi Traders! GBPNZD short term forecast update and follow up is here. On Sep 3rd,…
Hi Traders! GBPCHF technical analysis and short term forecast is here. We do our analysis…
