GBPNZD UPDATE!!
Updated
Hello traders:
Yesterday's price action was unclear, today, price on the four hourly has created a descending impulse channel to the downside after a false breakout to the upside.
Looking closer on the hourly, price action seems to be making a double top and Bearish Head & Shoulder. Price finished making a smaller impulsive move down, could we see a small corrective move up to touch the main trendline for a continuation to the downside?
Looking for price action to touch the gold zone for a better entry to the downside.
Yesterday's price action was unclear, today, price on the four hourly has created a descending impulse channel to the downside after a false breakout to the upside.
Looking closer on the hourly, price action seems to be making a double top and Bearish Head & Shoulder. Price finished making a smaller impulsive move down, could we see a small corrective move up to touch the main trendline for a continuation to the downside?
Looking for price action to touch the gold zone for a better entry to the downside.
Note
Price broke above descending channel on the hourly. Could we see price continue with the correction to the upside?
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.