GBP NZD - buying imbalances
Updated
Hello traders and analysts.
Below is our setup for the Minor pair - GBP NZD [Kiwi].
Zone colour Master Key:
Blue = Monthly
Purple = weekly
Orange = Daily
Grey = 4hour
Pink = 1 hour
Monthly imbalances -
Price has rejected multiple times the zone with 1.81 being the lowest wick on a monthly close. This zone is a powerful buying zone for positional holders like us for two reasons;
1. - Price is clearly making lower highs
2. - The wicks are closing bullish - suggesting the zone is a fractal buying imbalance
Weekly imbalances
Price has rejected the monthly zone as well as on a weekly, the weekly close is showing bullish signs as the candle closes are creating higher lows. Further to this, the price analysis of the candle sticks show a strong engulfing whipsaw of a bearish week followed by a bullish week immediately after. This shows that price action on a lower time frame will indicate that the profit taking for the sellers are transitioning the imbalance of sellers to buyers.
The gap from this zone where the imbalance has arisen, from a technical stand point gives the probability of the fresh zone on the monthly is the open target.
Daily imbalances
The current possible imbalances are marked and align with the price targets where price will look to reject using a Fibonacci extension tool, so these align with the strategy. On a daily timeframe, the price closes begin to show the consolidation and price range coming into effect.
Where we will look to buy next:
Between 1.906 - 1.91 if price retraces to this zone again.
Here is a possible scenario of what the next entry could be if price enters the grey zone.
Targets:
The price targets set are GBP NZD 2.08 + - with a longer term final profit target of 2.15.
Why? Because this is where our imbalance wick fill is.
Do you enjoy the setups?
If you like the idea, please leave a like or comment.
To all the followers, thank you for your continued support.
Thanks,
Team LVPA MMXXI
Below is our setup for the Minor pair - GBP NZD [Kiwi].
Zone colour Master Key:
Blue = Monthly
Purple = weekly
Orange = Daily
Grey = 4hour
Pink = 1 hour
Monthly imbalances -
Price has rejected multiple times the zone with 1.81 being the lowest wick on a monthly close. This zone is a powerful buying zone for positional holders like us for two reasons;
1. - Price is clearly making lower highs
2. - The wicks are closing bullish - suggesting the zone is a fractal buying imbalance
Weekly imbalances
Price has rejected the monthly zone as well as on a weekly, the weekly close is showing bullish signs as the candle closes are creating higher lows. Further to this, the price analysis of the candle sticks show a strong engulfing whipsaw of a bearish week followed by a bullish week immediately after. This shows that price action on a lower time frame will indicate that the profit taking for the sellers are transitioning the imbalance of sellers to buyers.
The gap from this zone where the imbalance has arisen, from a technical stand point gives the probability of the fresh zone on the monthly is the open target.
Daily imbalances
The current possible imbalances are marked and align with the price targets where price will look to reject using a Fibonacci extension tool, so these align with the strategy. On a daily timeframe, the price closes begin to show the consolidation and price range coming into effect.
Where we will look to buy next:
Between 1.906 - 1.91 if price retraces to this zone again.
Here is a possible scenario of what the next entry could be if price enters the grey zone.
Targets:
The price targets set are GBP NZD 2.08 + - with a longer term final profit target of 2.15.
Why? Because this is where our imbalance wick fill is.
Do you enjoy the setups?
- We have 10 years combined analysis experience in world markets.
Offer our technical breakdowns here
Focus on technical output not fundamentals
Position and swing trades
Provide updates where necessary - with new updated ideas tracking the progress.
If you like the idea, please leave a like or comment.
To all the followers, thank you for your continued support.
Thanks,
Team LVPA MMXXI
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tradingview.com/chart/CZVrryZc/
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