GBPNZD - Bearish continuation after 50% retracement
The GBPNZD 50% retracement from the last major move appears to be holding. Indicators are suggesting oversold values and weakening bullish pressure. The red rectangle is the projection based on the 50% retracement.
A pending sell order has been place a few pips below today's low at 1.748. SL is safely above the highs of this retracement.
GBPNZD likes to make big moves so be ready for a roller coaster ride.
A pending sell order has been place a few pips below today's low at 1.748. SL is safely above the highs of this retracement.
GBPNZD likes to make big moves so be ready for a roller coaster ride.
Note
GBPNZD came very close to triggering the sell order by missed and made a small move higher. The setup is still valid but the trade will not take place until next week.Note
Still waitingNote
Still waiting . . .Trade active
Price finally triggered the entry about a month later than anticipated. Nevertheless, it finally happened and is curently up a couple hundred pips. SL adjustment: 1.7530
Note
SL adjustment: 1.747Trade closed: stop reached
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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.