GBP/NZD Waiting to break
GBP/NZD is trying to break its resistance.
Forming a CUP pattern on the weekly pushing against resistance at 1.9144
Daily shows an igniting rising 3 pattern, this being a good bullish sign.
The 4H is currently in an ABC pullback.
RSI Bullish across all time frames.
Will enter this trade at the break of resistance.
Entry - 1.9415
Target 1 - 1.95606
Target 2 - 1.97563
Forming a CUP pattern on the weekly pushing against resistance at 1.9144
Daily shows an igniting rising 3 pattern, this being a good bullish sign.
The 4H is currently in an ABC pullback.
RSI Bullish across all time frames.
Will enter this trade at the break of resistance.
Entry - 1.9415
Target 1 - 1.95606
Target 2 - 1.97563
Order cancelled
Price is now falling away from the resistant level and did not get the buy signal, therefore trade was not entered.This pair is still ok but i will wait for price to build back up to the resistant zone before looking for another entry.
Only the daily chart this could be forming an inverse head and shoulders, i will keep and eye on this pair and release a new signal later.
Note
As mentioned before the right shoulder is starting to form nowNote
We can see here how price formed that right shoulder on the daily before breaking through resistance and pushing up
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