GBP/NZD: Bullish Confluence Signals Upside Potential
Updated
In this setup on GBP/NZD, several bullish confluences align to signal potential upside movement towards the recent highest high. The anchored VWAP provides strong dynamic support, where the price has bounced off after a clear 3-wave corrective structure (ABC). The completion of the (C) wave is highlighted by a powerful bullish engulfing candle, suggesting that the corrective move has ended, and the price is primed for a continuation upwards.
Traders looking to enter long positions could target the recent high at 2.13478, where previous resistance may act as a target zone. With the combination of AVWAP, Elliott Wave correction, and the engulfing candle, this setup presents a compelling case for a long position in the direction of the trend.
Traders looking to enter long positions could target the recent high at 2.13478, where previous resistance may act as a target zone. With the combination of AVWAP, Elliott Wave correction, and the engulfing candle, this setup presents a compelling case for a long position in the direction of the trend.
Trade closed: target reached
TP
Options to close just half
Tanakorn Koomrampai ,CMT, CFTe
FB page (International) : facebook.com/graphtechniq
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Line @graphtechnic
FB page (International) : facebook.com/graphtechniq
FB page (Thai) : facebook.com/graphtechnic
Line @graphtechnic
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