Possible short position on GBPNZD
Updated
Price has been reversed from weekly structure and broke out it daily structure as well.
Recently it has been in a correction movement which could lead to a double top pattern.
Waiting for break out of the hourly structure to confirm the bearish movement to the lowest area of the weekly channel.
Will update the idea if it confirms.
Recently it has been in a correction movement which could lead to a double top pattern.
Waiting for break out of the hourly structure to confirm the bearish movement to the lowest area of the weekly channel.
Will update the idea if it confirms.
Note
As expected, price has reversed from the resistance area and now it has been started a bearish correction on the hourly chart.It will be a good idea to enter the short position after break out of expected correction trend.
Will update the idea as soon as it is ready to enter.
Trade active
A new idea has been posted as the trade details related to this analysis.
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