Try to find order block or golden ratio on this picture. Also use fibonacci formula and tell me what do you think. What should I do.....buy, sell or neutral.....your prediction



Aime
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Order Block Analysis:
- The order block is the area where the price has recently fluctuated significantly, indicating a high level of interest and potential volatility.
- In the image, the order block is around the price of 1.94058, which is the current price of GBP/AUD.
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Golden Ratio Analysis:
- The golden ratio is a ratio that is approximately 1.618:1, which is often used in technical analysis to identify potential areas of support and resistance.
- To find the golden ratio on the chart, you would look for the price levels that divide the chart into two equal parts. The left part would be the price range from the low of the chart to the price of 1.94058, and the right part would be the price range from the high of the chart to the price of 1.94058.
- By visually approximating the division of the chart into two equal parts, you can see that the price level around 1.94058 is approximately at the golden ratio.
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Predictive Action:
- Sell:
- The price has recently shown a strong downward trend with multiple red candles, indicating a bearish sentiment.
- If the bearish trend continues, the price might test the support levels around the golden ratio, which is around 1.94058.
- However, before making a decision, consider other technical indicators and fundamental analysis.
- Buy:
- The price has recently tested the resistance levels and has not broken out, suggesting a potential consolidation phase.
- If the price breaks out above the resistance and confirms the uptrend, the golden ratio could be a potential target.
- However, waiting for a clear breakout before entering a buy position is advisable.
- Sell:
In conclusion, based on the visible information and the suggested use of the golden ratio, it seems that the price might be testing the support around the golden ratio (1.94058) which could be a potential area for a sell if the trend continues. However, this is a speculative analysis and actual market movements can be influenced by various factors not visible in this image.
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