GA trading range update - short near term, still long
Hello traders and analysts,
We have an update to our GBP AUD trading range - price is still very much ranging but we have managed to yet again catch a trade to the upside whilst still hedging the downside movements. We added a new sell position in order to protect longs, keep in mind this is risky - but until price shows a break of the range of clear downside movements. This accumulation range will build up a big move up or down.
COT Data: Aussie
Long Short Total %Long %Short
Avg_20 33,541 66,392 99,933 33.55% 66.45%
COT data: Pound
34,424 55,414 89,838 38% 62%
31,267 45,396 76,663 42% 58% AVG 13 weekly
With reference to previous postings, these are still very much in play.
Technicals:
What can we see technically?
- Daily bearish but breaking momentum short in the channel.
- weekly bearish zone touched
- bounce from the demand zone zone.
- we can see the trend beginning to add long positions to correct - this has now occurred.
- we have made lower lows and lower highs- showing the correction
- now in a consolidation zone with some great wicks formed and a reversal to the upside - this has been boosted by GBP Tuesday as of writing.
-AUD USD ranging market looking to break 0.70 for upside strength.
-Large downside gap to fall to if price looks to create a new low structure in bearish confluence and momentum trading.
- COT report in favour of AUD however, risk off will shift sentiment.
Fundamentals
Aussie is a commodity currency so is highly affected with exports of natural resources, Gold , Oil , Grains, Copper etc.
Victoria lockdown has caused issues for the restart of the border openings
USD outlook affects the progress of strength for Ausrtralia.
Coronavirus within the US sees an affect on the economy for the US as a result affects directly Australia where the index correlates.
Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted.
Trade what you see, this is purely our Bias.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment.
Many thanks for your support to our existing and new followers. Much appreciated
Thanks,
Team Lupa.
We have an update to our GBP AUD trading range - price is still very much ranging but we have managed to yet again catch a trade to the upside whilst still hedging the downside movements. We added a new sell position in order to protect longs, keep in mind this is risky - but until price shows a break of the range of clear downside movements. This accumulation range will build up a big move up or down.
COT Data: Aussie
Long Short Total %Long %Short
Avg_20 33,541 66,392 99,933 33.55% 66.45%
COT data: Pound
34,424 55,414 89,838 38% 62%
31,267 45,396 76,663 42% 58% AVG 13 weekly
With reference to previous postings, these are still very much in play.
Technicals:
What can we see technically?
- Daily bearish but breaking momentum short in the channel.
- weekly bearish zone touched
- bounce from the demand zone zone.
- we can see the trend beginning to add long positions to correct - this has now occurred.
- we have made lower lows and lower highs- showing the correction
- now in a consolidation zone with some great wicks formed and a reversal to the upside - this has been boosted by GBP Tuesday as of writing.
-AUD USD ranging market looking to break 0.70 for upside strength.
-Large downside gap to fall to if price looks to create a new low structure in bearish confluence and momentum trading.
- COT report in favour of AUD however, risk off will shift sentiment.
Fundamentals
Aussie is a commodity currency so is highly affected with exports of natural resources, Gold , Oil , Grains, Copper etc.
Victoria lockdown has caused issues for the restart of the border openings
USD outlook affects the progress of strength for Ausrtralia.
Coronavirus within the US sees an affect on the economy for the US as a result affects directly Australia where the index correlates.
Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted.
Trade what you see, this is purely our Bias.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment.
Many thanks for your support to our existing and new followers. Much appreciated
Thanks,
Team Lupa.
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