GBPNZD potential reversal
on DAILY: GBPNZD is sitting around a support zone so we will be looking for objective buy setups on lower timeframes.
unless GBPNZD breaks below our support aggressively, then it would become resistance and we will be looking for objective trend-following sell setups on its retest.
on M30: GBPNZD is forming an inverse head and shoulders pattern (still an idea) so we are waiting for the right shoulder to form and then enter after a momentum candle close above the neckline.
we also have a regular bullish divergence on MACD adding more confluence to our buy setup.
Meanwhile, until the buy setup is activated, GBPNZD would be overall bearish.
unless GBPNZD breaks below our support aggressively, then it would become resistance and we will be looking for objective trend-following sell setups on its retest.
on M30: GBPNZD is forming an inverse head and shoulders pattern (still an idea) so we are waiting for the right shoulder to form and then enter after a momentum candle close above the neckline.
we also have a regular bullish divergence on MACD adding more confluence to our buy setup.
Meanwhile, until the buy setup is activated, GBPNZD would be overall bearish.
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.