Currently seeing a corrective pattern devolping, once complete we should see a move up.
GBPNZD is approaching our first support level at 1.8613 (horizontal overlap support, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1.8995 (horizontal swing high resistance, 61.8% Fibonacci retracement). Stochastic (55,5,3) is also approaching support where we...
GBPNZD is approaching our first resistance at 1.8837(50% Fibonacci retracement , 100% Fibonacci extension , horizontal pullback resistance) where we might see a drop in price to our first support at 1.8688 (61.8% Fibonacci extension ,horizontal swing low support ). Stochastic (21,5,3) is also approaching resistance and we might see a corresponding drop in price...
Observing 4H, Daily and Weekly chart, we can see bearish momentum. There are 2 ways to look at this current price formation. Firstly, it is in an upward channel, touching the lower bound and looking to breakdown of it. (Indicated by green lines) Secondly, you can see it as a H&S pattern, where price is currently at the neckline. (Indicated by yellow line) Targets...
GBPNZD reversed off its resistance at 1.9008 (100% Fibonacci extension ,38.2% Fibonacci retracement , horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 0.8764 (61.8% fibonacci extension ,horizontal swing low support). Ichimoku cloud is also showing bearish cloud where a corresponding drop is expected....
Using both pattern trading and zones, we should see this play out.
Expecting price to bounce from this zone and break the last high.
Short GBP/NZD , GBP is on trouble and with a bit of risk on the NZD looks strong. Always have good stops in place so you don't blow your account. Never play with money you cant afford to lose or you are just gambling. Good target and stops in place. I don't win 100% of the time , but as as long as your R/R is good you have a good chance of beating the markets....
GBPNZD is approaching our first resistance at 1.9284 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.9184 (horizontal overlap support, 38.2% Fibonacci retracement). Stochastic (55,5,3) is approaching resistance where we might...
GBPNZD - 2a - 190204 - SHORT - OANDA - ATx2 - 4H - (RRR 12.87)
The sentiment of GBPNZD currency pair is UP SWING. Recent swing is moving UP from lower band to middle band. The previous swing of GBPNZD currency pair was DOWN and had no volatility movement, so supply is decreasing. As market direction the sentiment has turned to positive while the buying pressure overcomes the selling pressure. The execution of buying price at...
Nasty Rejection candle, LH on HTF's and will be shorting here with a target of 1.86's
As we see we are clear in a downtrend. Price is now on the 15m candle on its resistance of the trendline. We should keep an eye what price will do with the opening of the markets and then enter our short position. Im for sure some other people been riding the short for a while so we could catch the next short run. Im still learning each day in the markets. So...
price is at the support of this ascending channel, looking for price to continue this trend.
Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Reasons for my analysis: - yesterdays NZD news was released "bullish" - GBPNZD is re-testing a trendline - perfectly hit 0.5 fib on the 4h chart - today GBP got bearish news, not HIGH news, but MIDDLE ones ;) Please share your comments and thoughts. :)