Buy GBPAUD Multiple TimeFrame Analysis

2020년 4월 17일

Although, GA is currently strong downtrend overall, it has presented a current buy opportunity.



-[Weekly TimeFrame]
The weekly time frame, there was a hugh sell of last week. And after a big push to the downside, this week candlestick is ending in a doji. It has respected and found support at th 38.25 fib level. It appears that it is time for a nice size retracement.



-[Daily TimeFrame]
found support at a daily demand zone
double bottom pattern formation
it appears it will end the day in a hammer candlestick
it has also found support/respected the trend line




-[4 hour TimeFrame]
it appears there is a double bottom, inside of a double bottom and another double bottom is forming inside of it (refer to the image)
-you can also make the argument of an inverted head and shoulders pattern
it has also found support/respected the trend line