A breakout from either side will see price move to confluence support zones of Fibs and SR.
Preference is to see price break upwards as a retrace of current down wave fib50 region (in confluence with other resistances)
and thereafter shorting down to the TP area Fib 38.2 (in confluence with other resistances).
However, if GBP remains bearish and NZD remains Bullish, we may see price quickly breaking out downwards to TP area.
Preference is to see price break upwards as a retrace of current down wave fib50 region (in confluence with other resistances)
and thereafter shorting down to the TP area Fib 38.2 (in confluence with other resistances).
However, if GBP remains bearish and NZD remains Bullish, we may see price quickly breaking out downwards to TP area.
Note
So far, the market has moved the way we hoped it would for max profits.CUurently the mkt has to break the thick horizontal arrow in (updated chart in link below) order to continue its move to our TP1 (*TP1 is updated as we take into consideration, Fibs levels (price level dependent) in conjunction with other confluences).
May we be in the wave!
Trade active
On Friday, afew hours after our update, TP1 was hit and immediate buying from the support at TP1 saw the week close near to the Fib50 of current down wave. Thank you for your eye time.
Trade closed: target reached
TP2 Hit for a Home run. Hope you liked this trade idea. Thank you for your eye-time
Trade closed: target reached
What next? Follow the link below for current idea on GBPNZD.
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.
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.